The United Nations said on November 22 the Palestinian economy had lost an estimated $426 million in a two-month wave of violence with Israel.

The Gaza office of the United Nations Special Coordinator (UNSCO) to the Middle East peace process said about 900,000 people, or just under a third of the Palestinian population, have been directly affected by loss of jobs in Israel.

Before the current crisis, tens of thousands of Palestinian breadwinners crossed into Israel every day to find work. Citing security concerns, Israel tightened travel restrictions on Palestinians after violence erupted on September 28.

UNSCO estimates that total losses to the Palestinian economy, in terms of disruptions to production and income earned, reached $426 million, the statement said.

It said the socio-economic situation among Palestinians facing border closures and restricted mobility "is now taking on crisis proportions".

Reuters