Palestinian losses estimated at $ 505 million in three months

The United Nations Children Fund (UNICEF) said Friday Palestinians are estimated to have lost $ 505 million between September 28 and November 26.

UNICEF spokeswoman Lynn Geldof told reporters the estimated losses are more than 2.5 times the value of donor disbursements to the Palestinian national authority during the first half of this year. Donor disbursements stand at $ 183 million during the first six months of the year.

"The core unemployment rate rose from 11 % to 30 % of the labor force, and the poverty rate is expected to rise by the end of this year to 3.1 % constituting a 50 % increase in poverty rates within a 3-month period," added Geldof.

According to the UNICEF, some 70,000 Palestinian workers have been prevented from working in construction and agriculture in Israel.