Tel Aviv, May 15 (IANS/DPA) Palestinians are set to commemorate the loss of their homeland on Wednesday by observing Nakba Day (Catastrophe Day), which marks the flight of more than 7,00,000 Palestinians during the 1948 war that led to the establishment of the state of Israel.

Every year, the Nakba Memorial Day is held on May 15, marked with marches and demonstrations. The state of Israel was declared on May 14, 1948.

This year, the central event is planned in Ramallah in the West Bank, where sirens are expected to sound for 76 seconds to mark the 76 years since the Nakba.

Given the situation in the Gaza Strip, observers are predicting clashes with Israeli forces in the West Bank.

The United Nations puts the number of Palestinian refugees and their descendants at currently around 6 million.

Establishing a permanent home for the refugees, along with the status of Jerusalem, is seen as among the most complex problems in the Israeli-Palestinian conflict.

According to the Palestinian statistical office, there are about 14 million Palestinians around the world, with half of them living in the West Bank, East Jerusalem, the Gaza Strip and Israel.

Around 20 per cent of Israel's population of almost 10 million are Arabs.