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FinancialNews
24-06-19
USD700m logged in Palestinian Authority budget deficit
(MENAFN) Budget deficit for the Palestinian Authority (PA) was registered at USD700 million as a result of financial activities Israel is conducting.
Secretary-General of the Arab League (AL) Ahmed Aboul-Gheit confirmed that the Palestinian Authority is currently struggling with restricted financial resources and revenues.
Tax proceeds, the AL secretary general emphasized, amount for 70 percent of total revenues in Palestine.
Aboul-Gheit also highlighted the significance of implementing a USD100 million per month Arab financial safety network for the budget of PA to be strengthened.
MENAFN2406201900450000ID1098677422
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