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‘Israeli’ Economy Drop: Poverty Rate Rises, Standard of Living Crashes
By Staff, Agencies
The Zionist entity’s poverty rate increased recently as the standard of living dipped significantly throughout 2020 due to the coronavirus crisis and the consequent three full lockdowns, a report published on Thursday said.
The report specifies that since the outbreak of the pandemic in the ‘Israeli’-occupied territories in March 2020, the number of settlers living below the poverty line had increased by 7%, accompanied by a significant 4.4% decrease in the entity’s standard of living.
The current drop in living standards in the Zionist entity is the most significant the entity had endured since the economic crisis of 2008 and is 23% worse.
Additionally, income inequality in the Zionist entity in 2020 had also increased by 7.8% compared to 2019. Many of those who lost their livelihood during the crisis were workers making minimum wage, causing the growing disparity and further deepening inequality in the occupied territories.
The report further stated that the number of people living under the poverty line dropped slightly to 1,980,309, compared to more than 2 million in 2019. These figures are not necessarily encouraging since the poverty line is defined by the average standard of living, which has dropped considerably in the past year.
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