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World Bank, Washington, DC
Middle East and North Africa | West Bank and Gaza
2014-11-19T20:10:43Z | 2014-11-19T20:10:43Z | 2013-01

The economy of the Palestinian territories, hampered by years of conflict, occupation, and insecurity remains dependent on foreign aid and the public sector remains the largest employer. Jobs are too few and manufacturing, agriculture, services, including tourism are in decline. As a recent Bank report noted while the Palestinian Authority (PA) has had considerable success in building the institutions of a future state, it has made less progress in developing a sustainable economic base. The recent growth has largely been driven by donor aid. This situation is unsustainable and aid levels have already begun to fall. Fora future Palestinian state to be viable, it is necessary that a private sector led economy is able to generate the jobs needed by a rapidly growing population and the resources required by the government to provide services. Despite multiple challenges in the investment climate, the Palestinian information and communications technology (ICT) sector has managed to grow and integrate with regional and international businesses. It is a fast growing start-up sector, which heavily contributes to the development of a knowledge based economy in Palestine.


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