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Tehran, 01 June_The World Bank has warned about the devastating economic ramifications of the new coronavirus in the occupied Palestinian territories.
In a report on Monday, the World Bank warned that poverty in the occupied West Bank may double as Palestinians are facing the economic fallout of the coronavirus outbreak.
The UN agency said the Palestinian Authority's financial situation is expected to become increasingly difficult due to loss of income and increased spending on healthcare and other areas.
It added the fallout is expected to see the number of households living below the poverty line increase this year from 14 to 30 percent in the West Bank, largely due to Palestinians being unable to cross into Israel for work.
The global body also estimated that the Palestinian economy is set to shrink between 7.6 and 11 percent for 2020.
The PA last week announced an end to the lockdown it had imposed in early March across the West Bank after an outbreak of the COVID-19 illness in Bethlehem.
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