Israel, Palestine suffer economically in conflict

Global Business

As the humanitarian situation in Gaza is deteriorating, both sides are suffering economically according to the International Monetary Fund. 

The IMF estimates the cost to Israel is likely to be 0.2 percent of its GDP, equivalent to around half a billion dollars. But if the IMF expects Israel to rebound quickly, the same can’t be said for Gaza. CCTV’S Owen Fairclough reports.
Follow Owen Fairclough on Twitter @cloughieDC

Economic damage to Israel and Palestine in conflict

Economic damage to Israel and Palestine in conflict

As the humanitarian situation in Gaza is deteriorating in the conflict between Israel and Palestine, both sides are suffering economically according to the IMF.  It estimates the cost to Israel is likely to be 0.2% of its GDP, equivalent to around half a billion dollars. But if the IMF expects Israel to rebound quickly, the same can't be said for Gaza. CCTV'S Owen Fairclough has more.