Palestinian fishermen at the port of Gaza City. (Aaed Tayeh/Flash90)

Israel is loosening fishing restrictions on the coastal territory of Gaza to allow for an increase in annual revenue for Gaza’s economy.

In a move expected to take effect on Sunday, the distance that fishing vessels are allowed to travel off the coast of Gaza will be increased from six to nine nautical miles, said the head of the Palestinian fishing union, Nizar Ayyash, AFP reported.

Additionally, Israel’s Coordination of Government Activities in the Territories (COGAT) was quoted as saying that the Israeli Navy decided to ease the restriction “to expand fishing south of Wadi Gaza (located south of Gaza City) from six to nine miles” in advance of the upcoming fishing season. This move might generate an extra NIS 400,000 ($106,000) in annual revenue for Gaza’s economy, according to COGAT estimates.