There is no doubt that the economic damage in the Gaza Strip is enormous and a significant global effort will be required to rebuild it, if we indeed reach that stage. 

The World Bank and the UN talk about a reconstruction cost of about 50 billion dollars, while the Palestinians claimed yesterday that the total economic damage amounts to about 70 billion dollars. 

How did this gap arise? It seems that the Palestinians add to the damage to infrastructure also loss of output, income, and business activity beyond the physical destruction after two years of war.