The Government Media Office in Gaza reported that direct losses to key sectors have reached approximately $70 billion, describing the ongoing situation as “genocidal.”

According to the report, Gaza’s economy has lost over 90% of its value, with nearly all productive sectors halted, unemployment surpassing 85%, and most residents living below the poverty line.

It added that reconstruction costs have risen to unprecedented levels, exceeding $70 billion, amid the continuing blockade and widespread destruction of infrastructure.