The World Bank reported that int’l donor support is a must to maintain Palestinian budget-cutting to stave off probable crisis, and their economy will remain hobbled as long as the conflict with Israel continues.
Less than half the $3.5 billion donors have pledged to aid with reconstruction efforts in the Gaza Strip following the 2014 war has been disbursed, according to the World Bank.
The World Bank added that international donor support is a must to maintain Palestinian budget-cutting achievements and stave off crisis.
It said in the report that over the past 10 years the Palestinian Authority had slashed its deficit by an amount equal to 15 percent of its Gross Domestic Product, “an achievement rarely seen in other places around the world.” Continue Reading »
The World Bank’s report said that to rebuild Gaza’s economy, “a unified Palestinian gov’t in both the West Bank & Gaza” was required.
The Gaza Strip has the world’s highest unemployment and Palestinians, Israelis and donors must take action to avoid a “dangerous fiscal crisis,” the World Bank said Friday.
UNRWA continues to distribute food to 830,000 refugees in Gaza. – Photo: UNRWA
The report, prepared ahead of the bi-annual meeting of the Ad Hoc Liaison Committee (AHLC) which coordinates international donor support for the Palestinians, comes nearly a year after the 50-day conflict between Gaza militants and Israel, in which around 2,200 Palestinians were killed. Continue Reading »
Hamas is to receive world aid once again, this time $6.4 million, after escalating missile attacks on Israel.
Additionally, the Islamic Development Bank is contributing $11.1 million to Hamas as well.
The World Bank has come to the rescue of Hamas, giving it $6.4 million to improve water and sewage services after the latest escalation in attacks on Israel that drew Israel into the eight-day Pillar of Defense counterterrorist campaign.
Rocket launch from civilian area in Gaza – Reuters
The Islamic Development Bank is contributing an additional $11.1 million, but there has been no report of safeguard measures to ensure that some of the money will not be used for more weapons for future attacks on Israel. Continue Reading »
Regarding the Israeli economy, Fischer stated “we recovered from the global economic crisis very swiftly & we have grown at a rate of close to 5% in the past few years.”
At a press conference in Tokyo on Thursday for the annual World Bank-IMF meeting, Israeli central bank head Stanley Fischer said that security threats, including the possibility of a conflict with Iran, have a small effect on Israel’s economy, which he called “good but not in excellent shape.”
Stanley Fischer, Governor of the Central Bank of Israel. – Photo: wiki commons.
“I’m frequently asked about the influence of the security situation on the economy including the tension with Iran,” Fischer said. Continue Reading »