The Effects of the Israeli Occupation on the Global Economy

Abstract

Geopolitical conflicts always affect economic conditions. Just as the war between Russia and Ukraine caused devastating economic repercussions on the world, the scenario appears to be being repeated now with regard to the recent escalation between the Israeli occupation forces and the Palestinian resistance in the Gaza Strip, and it is expected that the impact will be greater on the region. The Middle East and its markets, then the entire world economy, which heralds a state of recession that will seep into more countries. The conflict has caused negative growth in the gross public product, and three years of negative growth in the per capita public product, and this means a decline in the standard of living. These reductions have increased poverty and weakened support mechanisms for the unemployed, female and low-wage workers, and families with multiple children. It also led to the reduction of other budgets, including the housing budget and equal aid to weak local authorities. Despite the changes that have occurred since those years, all of this today forms part of social policy.