(MENAFN- Jordan News Agency) The International Monetary Fund (IMF) expressed concern over the slow reconstruction process in the Gaza Strip, which was exposed to Israeli aggression in 2014.
The IMF said in its latest report on the economy of the West Bank and Gaza that the reconstruction process in Gaza Strip "is moving far more slowly than expected." According to official estimates, the losses from the war were over US$4 billion, some 35 percent of West Bank and Gaza's GDP.
While notable progress has been made recently with the provision of materials for the repair of individual homes, larger construction projects that are required for a job-creating economic recovery are still pending, the report said.
The report also noted that these projects were pending because of the delay in receiving international assistance.
The IMF also stressed the need for Palestinian national reconciliation, expressing concern over the Palestinian economy, which fell into recession in 2014 after recovering from its last recession in 2006.
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