Israeli occupation results in $7 billion losses for Palestinians every year

Palestinian losses resulting from the Israeli occupation have been estimated at around $7 billion every year, claims a report issued by the Organisation of Islamic Cooperation (OIC). The difficult living conditions for the Palestinians are attributed to the annexation of the Palestinian economy to Israel’s.

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The losses, the report said, come about largely as a result of Israel’s control over the natural resources in the Occupied Palestinian Territories and using them for Israel’s sole benefit. “Israel controls most of the underground water sources in the occupied West Bank and the Gaza Strip,” the report noted. In fact, although the water sources produce 734 million cubic metres of water per annum, Palestinians only have access to 32 per cent of it.

The OIC report listed environmental pollution, industrial and economic hindrances and Israeli restrictions on Palestinians’ freedom to travel as contributory factors to the overall losses.