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Economic Monitoring Report to the Ad Hoc Liaison Committee

LIVING STANDARDS TERRORISM DEFICIT MONETARY POLICY PLEDGES REGULATORY FRAMEWORK LIABILITY BANK BORROWING CHECKS DEPOSITS LIQUIDATION STOCK PRIVATE LENDING VALUATION DISTRIBUTION OF CREDIT PROMISSORY NOTES DOMESTIC BORROWING GUARANTEES PRIVATE CREDIT EXCHANGE ECONOMIC DEVELOPMENTS BANKING SYSTEM PAYMENT SYSTEM LIQUIDITY TAX OBLIGATION TAX COLLECTION BLACK MARKET REVENUES MORTGAGE CAPACITY BUILDING LOAN TAX CASH TRANSFER INCOME TAX BANKRUPTCY PLEDGE INFLATION PENSION REPAYMENT SCHEDULE BUDGET BANK LENDING CENTRAL BANK LABOR MARKET CURRENCY LOCAL BANKS TELECOMMUNICATIONS DISBURSEMENT ECONOMIC TRANSACTIONS FINANCES EXCHANGE RATES TRADING TAX EXEMPTIONS CASH PAYMENT MONETARY FUND DEBT MARKETS PUBLIC FINANCE INCOME LEVELS LOANS TAX COLLECTIONS GROSS DOMESTIC PRODUCT MONETARY AUTHORITY BANK FINANCING FINANCE DOMESTIC BANK TAXES BANKING SECTOR CONTINGENT LIABILITY FISCAL DEFICIT PROFIT MARGIN EXPENDITURE TRANSACTIONS EQUITY TRANSACTION TAX RATE FRAUD TRADE FINANCE CONSUMER LOANS FUTURE PENSIONS SOFT LOAN INVESTOR CONFIDENCE INVESTMENT BANK DOMESTIC BANKING REPAYMENT BONDED WAREHOUSES EXPENDITURES DISBURSEMENTS PROPERTY ISSUANCE CURRENT ACCOUNT DEFICIT FOREIGN BANKS SHARES TRANSACTION COSTS MARKET POLITICAL UNCERTAINTY CREDIT BUREAU EXPORTER BANK ACCOUNTS LEVY INSURANCE CURRENCIES ARREARS ACCUMULATION TRADE SECTORS INTERESTS GOODS INVESTOR RECURRENT DEFICIT SECURITY INVESTMENT DOMESTIC ARREARS SHARE MORTGAGE LOANS TARIFF DEBT OBLIGATION REVENUE PROFIT LEVIES WAREHOUSES TAX DEDUCTIONS LENDING DEBT REPAYMENT DEBT INSTRUMENT CHECK PENSION FUND EXCHANGE RATE INSTRUMENT PUBLIC SPENDING COMMODITY PRICES ARREARS CASH FLOW INCOME LEVEL NONPERFORMING LOANS TAX OBLIGATIONS MIDDLEMEN
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World Bank, Washington, DC
Middle East and North Africa | West Bank and Gaza
2016-06-02T20:24:46Z | 2016-06-02T20:24:46Z | 2016-04-19

The Palestinian economy is not growing enough to raise living standards and reduce high unemployment. The economy has witnessed a sharp deceleration in economic growth, from over 8 percent during 2007-11 to 3 percent during 2012-15. The sharp decline in growth has stifled the economy's ability to create jobs for a growing youth population. Successful reform efforts and strong economic growth helped bring the relative size of the Palestinian overall fiscal deficit down from 24.6 percent of GDP in 2008 to 13 percent in 2010. However, despite these efforts at fiscal consolidation, the deficit to GDP ratio has remained stuck in the 10 - 13 percent range since 2010 -- on the back of a large wage bill and weak revenue performance. The economy has long suffered from the restrictions1 and political instability that continue to constrain private sector activity. In addition, the decline in donor funding from 32 percent of GDP in 2008 to 6 percent in 2015 has significantly contributed to the recent economic weakening. The internal divide between the West Bank and Gaza, which has created a dual regulatory framework, has also negatively impacted economic activity and the tax base.

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