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Gaza economy on verge of collapse

Gaza's economy is on the "verge of collapse", a new World Bank report warned today, saying the unemployment rate there is now the highest in the world and calling on Israel and international donors to remedy the situation.

It charged that "blockades, war and poor governance have strangled" the economy of the Gaza Strip.

The report said Gaza's GDP would have been four times higher if not for conflicts and restrictions, including a blockade in place since 2007.