Gaza economy 'on verge of collapse', with world's highest unemployment

World Bank report says Israeli blockades, war and poor governance have left 43% of people out of work and the strip facing dangerous financial crisis

The economy of Gaza - assailed by war, poor governance and a joint Israeli-Egyptian blockade - has reached the "verge of collapse" with the coastal strip suffering the highest rate of unemployment in the world.

The bleak picture is presented in a devastating report by the World Bank, released on Friday, which said that Gaza's economy had been strangled by years of blockades, war and poor governance and faces a dangerous crisis over its ability to meet wages and other spending requirements.