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Gaza on verge of economic breakdown due to Israeli blockade: Expert

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Gaza20June5GAZA (PNIC):-Gaza’s economy is on the threshold of a serious collapse as a result of the closure, by the Israeli occupation authorities, of the Karam Abu Salem crossing point, head of the Palestinian Businessmen Association, Ali al-Hayek, has said.

Hayek warned of the severe economic fallouts of the closure of the Abu Salem border crossing, saying over the past ten days a deficit of millions of dollars has rocked the blockaded coastal enclave.

He added that exports have been ceased, commercial deals halted, and goods expired as a result of Israel’s penal measures on Gaza.

“Israeli authorities blocked the exit of nearly 800 trucks laden with goods out of the enclave after the closure decision was put into effect”, Hayek continued. “Dozens of trucks have been denied access out of and into the Gaza Strip since July 5.”

“The balance of trade has been destabilized and civilians’ purchasing power has remarkably gone downhill”, Hayek further warned. “Prices of vegetables have started to seriously shrink back.”

On Monday, July 9, the Israeli occupation government ruled for shutting the Karam Abu Salem crossing, Gaza’s sole commercial passageway, blocking the importation and exportation of vital goods.

A blockade enforced by the Israeli occupation on the enclave for 12 consecutive years has added bad to worse, turning Gaza into the world’s largest open-air prison.


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