New York / PNN /

 UN Special Rapporteur on Human Rights in Palestine Francesca Albanese said that a new United Nations report has concluded that the Israeli war on Gaza has wiped out 69 years of human development, destroying healthcare systems, education, infrastructure, and even banks.

Albanese wrote in a post on X on Tuesday that this represents “the worst economic collapse ever recorded,” adding, “This is not a war; it is a genocide.”

She published a copy of the summary of the report issued by the UN Conference on Trade and Development (UNCTAD), which stated that the destruction witnessed in Palestine since October 2023 “has unleashed successive economic, humanitarian, environmental, and social crises, pushing the occupied Palestinian territory from underdevelopment to total devastation.”

The report noted that Gaza’s economy contracted by 87% during 2023 and 2024, causing per capita GDP to fall to just $161, one of the lowest levels recorded globally.

The UN body explained that the Israeli war has destroyed every pillar of survival—food, shelter, and healthcare—pushing Gaza to the “brink of complete collapse.”

The report added that the resulting economic crisis is among the 10 worst global economic crises recorded since 1960.

It warned that the recovery process could take many decades during which Gaza will remain dependent on extensive international support, noting that reconstruction will require more than $70 billion.