Hamas' Finances Under Scrutiny: $700M-$1B Income, $100M Military Spending
Hamas, the governing body in the Gaza Strip, has been under scrutiny for its financial activities. Prior to October 7, 2023, its annual income was estimated between $700 million and $1 billion. However, the sources and amounts of international funding remain unclear.
Hamas managed its budget in 2022 by cutting member payments by 40%, maintaining a monthly income of $40 million. The Gaza Strip's economy struggles, with a nominal GDP per capita of $1,257, 45% unemployment, and an average annual growth rate of 0.4% since 2007. Hamas' Investment Office held assets worth $500 million, primarily from construction companies abroad. It also earned around $350 million annually from Egyptian customs duties. In digital currency, Hamas received $41 million from 2021 to 2023, but paused fundraising due to security concerns. Military expenditure was estimated at over $100 million annually, with tunnel workers paid $250-400 per month. Western analysts suggest Iran's support was around $80-$100 million annually. Qatar increased its aid to the Gaza Strip to $360 million in 2021, with Israel's consent.
Hamas' financial activities remain a contentious issue, with accusations of international funding but no clear, substantiated figures. Despite economic challenges, Hamas maintains a significant income, investing in infrastructure and military capabilities. International aid, notably from Qatar, continues to flow into the Gaza Strip.
