Economic report indicates deteriorated conditions in Libya, Iraq, Palestinian territories

The biannual report by the secretary general of the Arab Economic Unity Council, Hassan Ibrahim, submit early this month to the ministerial meeting of the council's 67th ordinary session, said that total losses which hit all sectors of the Libyan economy since imposing sanctions until 1996 reached US $23.560 billion, of which some US $5.856 billion are losses borne by the sectors of economy and trade.

The report attributed the losses in the economy and trade sectors to the negative consequences of sanctions on the sectors of agriculture, industry, and fisheries, a decrease in imports and exports, increasing costs, and frozen Libyan capital abroad.

The report estimated losses inflicted in the energy sector at US $5 billion, some US $5.136 billion in the sector of industry and minerals and US $2.489 billion in the sector of transport and communications.

The report added that the impact of UN sanctions imposed on Iraq revealed an increasing number of deaths among Iraqi children under five years old and estimated at 85,942, so as total number of children who died since the beginning of the sanctions through 1997 is 2.35 million children.

Concerning the situation in the occupied Palestinian territories, the report noted that as a result of the sanctions imposed by Israel on the West Bank and Gaza strip, daily losses in the territories are estimated at US $10 million, a matter made volume of losses inflicted on the Palestinian economy until 1996 surpassed total international aids the Palestinians received so far, MENA said. Added to these, the report noted Israeli policy in confiscating lands and properties.