A report issued by the United Nations Conference on Trade and Development (UNCTAD) stated that the blockade imposed by Israel on the Gaza Strip cost the coastal region up to $ 16.7 billion in economic losses and led to a significant rise in poverty and unemployment, at a time when Israel called for the closure of Gaza strip to be lifted. The report of the United Nations Conference on Trade and Development retreated calls from many international bodies over the years that criticized the blockade. Regarding how to return Gaza to the development sector, the report indicated that to achieve this, the Palestinian government should be enabled to develop oil and natural gas resources off the coast of Gaza which would secure the necessary resources for the rehabilitation, reconstruction, and revitalization of the regional economy in Gaza. It also would greatly enhance the economy and financial position of the Palestinian National Authority. To check the news, click here