Approximately 75 percent of the requested funds target Gaza, where humanitarian needs are highest due to Israel's prolonged blockade and recurrent hostilities, further exacerbated by the impact of internal Palestinian divisions and Egypt's restrictions on the Rafah crossing, the statement said.

"Gaza teeters on the edge of a catastrophe," Minister al-Shaer said. "Humanitarian needs will deepen in the Gaza Strip, in both severity and complexity, as long as the illegal Israeli blockade remains."

He stressed that the Palestinian government is keen to build synergies between humanitarian aid and development cooperation in the occupied Palestinian territory, pointing out that ending the occupation is the most direct, practical and durable solution for Palestinian grievances.

Gaza has been placed under a tight Israeli blockade since Islamic Hamas movement seized the territory after routing forces loyal to President Mahmoud Abbas in 2007.

According to Gaza Commerce Chamber, unemployment rate in Gaza stands at 46 percent, while the rates of poverty have exceeded 65 percent.

The figures showed that there is a 50-percent increase in household food insecurity in Gaza, while local markets suffer from lack of purchasing power, leading to an acute shortage of cash.

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