FEAS Yearbook FEAS Yearbook 2024 | Seite 82

The Federation of Euro-Asian Capital Markets

About Company

Palestine Exchange

Established: 1995

Address: Nablus /Rafidya-Asal building -7th Floor

Working hours: 08:00 -15:30

Contact Name: Zakia Naser Hanani

Email: Zakia.hanani@pex.ps

Website: www.pex.ps

- Joined FEAS in 2000-

Nihad Talal Nihad Kamal General Manger

Year in review

As we reach the end of a year burdened with concerns and unprecedented challenges that began in late 2023 and extended throughout the entire 365 days that followed—and even beyond to this day—Palestinian life in all its social and economic aspects has been deeply affected.

As we enter 2025, we look forward to a year of resilience and renewal, with positive signs emerging on the horizon. . However, while political solutions for the ongoing crisis in Gaza remain uncertain, the situation in the West Bank is growing increasingly complex. Nevertheless, there is optimism that 2025 will be better than its predecessor, allowing for the initiation of reconstruction efforts and the stabilization of the faltering economic situation in both parts of the country.

There is no doubt that we are in a dire situation, given the shocking figures released by the Palestinian Central Bureau of Statistics—numbers unprecedented in the history of the Palestinian economy. Unemployment rates have surged to approximately 51% across the West Bank and Gaza Strip, while the Gross Domestic Product (GDP) has plummeted from $14.8 billion in 2023 to $11 billion in fixed prices, marking a

28% decline. This economic downturn has been further exacerbated by the ongoing recession in the West Bank and the inability to effectively manage or resolve these crises.

This economic distress has coincided with persistent global political tensions, including the ongoing conflict in Gaza and its regional ramifications, as well as the war between Russia and Ukraine. Additionally, political challenges arising from the European elections, which saw significant victories for right-wing parties, have further impacted the global economy—particularly the energy sector. These factors collectively have driven major economies toward green initiatives and alternative energy sources.

Despite these challenging circumstances, it is important to emphasize that the Palestinian securities sector has consistently demonstrated resilience in the face of adversity. This resilience is attributed to the sector’s robust market infrastructure, the flexibility of its legislat environment—including the swift implementation of measures that serve the interests of the market, companies, and shareholders—and the financial strength of listed companies. Additionally, investor and client confidence has positioned the sector as a