World Bank report: PA economy in severe state

A new World Bank report reveals that the corona crisis continues to hurt the Palestinian Authority’s economy.

According to the report, the Palestinian Authority economy is in a severe situation due to the global health and economic crisis, after suffering from three periods of closure in March, July and November 2020, severe economic slowdown, and a political crisis with Israel that delayed tax transfers Israel has collected for the PA for six months (May-November 2020). As a result, PA GDP in 2020 is expected to decline by about 11.5%.

The report calls for coordination between the Palestinian Authority, Israel and the world in order to eradicate the epidemic and enable necessary health services.

Source Link: https://www.israelnationalnews.com/News/Flash.aspx/532999

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