Friday 29 May 2020 ,
Latest News
Bangladesh records highest 2,523 new coronavirus cases in 24 hrs; 23 more die | SSC, equivalent exams results on Sunday | Bangladesh demands punishment for killers of 26 Bangladeshis in Libya | Total coronavirus cases in Bangladesh rises to 42,844; Death toll jumps to 582 | 25-30% bus seats must be kept empty, no standing passengers: Quader | Ex-Malaysia PM Mahathir expelled from own political party | Coronavirus: Global death toll reaches 359,791 | Cancer patients twice as likely to die from COVID-19: Study | Coronavirus Hotline Numbers: 01944333222, 16263, 333; website: www.corona.gov.bd |
21 September, 2019 00:00 00 AM

Print

Liquidity crunch choking Palestinian economy, says World Bank

­AFP, Jerusalem

Despite last month’s receipt from Israel of funds it owed, the Palestinian Authority still faces a financing gap that could top $1.8 billion, the World Bank said Thursday.

Palestinian president Mahmud Abbas’s PA has been in deep financial crisis since February when Israel froze transfers of VAT and customs duties it collects on the Palestinians’ behalf.

His administration had to impose austerity measures, cutting almost half the salaries of its employees.

The cuts hit hard on the Palestinian territories, already suffering unemployment of around 26 percent in the second quarter of 2019, the bank said in its latest report on the Palestinian economy.

Israel collects around $190 million a month in customs duties levied on goods destined for Palestinian markets that transit through its ports, and it is supposed to transfer the money to the PA. In February, Israel decided to deduct around $10 million a month from the revenues — the sum the PA paid inmates in Israeli jails or their families — prompting the Palestinians to refuse to take any funds at all.

Israel sees the payments to those who have carried out attacks against Israelis as encouraging further violence.

The PA describes the payments as a form of welfare, while Palestinians venerate prisoners jailed by Israel as heroes for their cause.

Last month, Israel’s debt was reduced with the retroactive payment of more than $560 million (506 million euros) in fuel taxes collected by the Jewish state.

 

.

Comments

Poll
Today's Question »
State minister for power Nasrul Hamid yesterday said everyone to have access to electricity by June. Do you think the feat achievable by the timeframe?
 Yes
 No
 No Comment
Yes 47.3%
No 48.7%
No Comment 4.1%
Most Viewed
E-Paper
More Business stories
Bangladesh Railway losing Tk 4-5cr every day Bangladesh Railway is losing Tk 4-5 crore in revenue every day following the suspension of all train services across the country amid the coronavirus outbreak. On March 24, the government suspended all…

Copyright © All right reserved.

Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Disclaimer & Privacy Policy
....................................................
About Us
....................................................
Contact Us
....................................................
Advertisement
....................................................
Subscription

Powered by : Frog Hosting