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publicationSeptember 18, 2022

Economic Monitoring Report to the Ad Hoc Liaison Committee- September 2022

A Palestinian baker in Ramallah city, West Bank.

Ahed Izhiman- Baker in Ramallah city- West Bank.

Despite some signs of recovery, the Palestinian economy has not yet rebounded to its pre-pandemic level. The ongoing restrictions on movement and access, the long-term effects of fiscal distress, combined with a rapid increase in prices are contributing to a slower economic recovery. Growth is projected to reach 3.5% in 2022, down from 7.1% in 2021. Rapid inflation is hitting the poorest Palestinian households hardest, with the cost of some basic food commodities projected to rise as high as 80% by the end of the year.