Awards for Excellence country winners: Palestine
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Awards for Excellence country winners: Palestine

Best bank: Bank of Palestine

The Palestinian economy was already slowing ahead of the October 7 attacks, but the situation has deteriorated sharply since then. Growth had fallen by 3% year on year across the territories in the first half of the year and by 4.4% in Gaza itself.

By the end of November, roughly 60% of ICT infrastructure, over 60% of health and education facilities and 70% of commerce-related infrastructure had been damaged or destroyed, along with nearly half of all primary, secondary and tertiary roads. The situation has deteriorated sharply since then.

The impact on the banks is of secondary concern in this situation, but will be profound. Approximately 85% of workers in the Gaza Strip have been out of work since the conflict started, along with close to 200,000 workers from the West Bank.

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