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Stagnation or Revival? : Palestinian Economic Prospects

ACCESS TO RESOURCES ADMINISTRATIVE REFORM AGRICULTURAL SECTOR ANTI-MONEY LAUNDERING ARREARS ARREARS ACCUMULATION BANK BORROWING BANKING SECTOR BANKS BUDGET EXECUTION BUSINESS CONFIDENCE CAPITAL EXPENDITURES CAPITAL GAINS CAPITAL INVESTMENTS CASH TRANSFER CENTRAL BANK CIVIL SERVICE CONSUMER PRICE INDEX COST OF LIVING CREDIBILITY DEBT DEPOSIT DEPOSIT INSURANCE DOMESTIC BANK DOMESTIC BANKING DOMESTIC BORROWING DOMESTIC DEBT DONOR FUNDING DONOR SUPPORT ECONOMIC ACTIVITY ECONOMIC DEVELOPMENTS ECONOMIC GROWTH ECONOMIC RECOVERY ECONOMIC SITUATION ELECTRICITY EMPLOYER EMPLOYMENT ENVIRONMENTAL EQUIPMENT EQUITIES EXCHANGE RATE EXCLUSION EXPENDITURE EXTERNAL FINANCING FEE COLLECTION FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIATION FINANCIAL MANAGEMENT FINANCIAL STATEMENTS FINANCIAL SUPPORT FINANCING REQUIREMENTS FISHING FORMAL BANKING GROSS DOMESTIC PRODUCT HIGH UNEMPLOYMENT HOUSEHOLDS HOUSING INCOME TAX INFORMATION TECHNOLOGY INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INSTITUTIONAL DEVELOPMENT INSTITUTIONAL REFORMS INVESTMENT CLIMATE INVESTOR CONFIDENCE JOB CREATION LABOR FORCE LABOR FORCE PARTICIPATION LABOR FORCE SURVEY LAND ADMINISTRATION LAND REGISTRATION LAND VALUE LAWS LEGISLATION LEGISLATIVE FRAMEWORK LOCAL BANKS LOCAL GOVERNMENTS MANDATES MERCHANTS MINISTRIES OF FINANCE MOBILE PHONES MONETARY AUTHORITY MONETARY FUND MUNICIPALITIES NATURAL RESOURCES NET ASSETS NONPERFORMING LOANS OPERATING EXPENDITURES OUTSTANDING CREDIT PAYMENT SYSTEM PENSION PENSION SYSTEM PENSIONS POLICY MAKERS POLLUTION PORTFOLIO PORTFOLIOS POTENTIAL INVESTORS PRIVATE SECTOR PRODUCTIVITY PRODUCTIVITY GROWTH PROPERTY TAX PROVISIONS PUBLIC PUBLIC FINANCE PUBLIC FINANCE MANAGEMENT PUBLIC SECTOR PUBLIC SERVICES REAL ESTATE RECEIPTS RECURRENT BUDGET DEFICIT RECURRENT DEFICIT RECURRENT EXPENDITURES RECYCLING REGISTRATION FEE REGULATORY FRAMEWORK RESERVE RESERVE REQUIREMENTS RESERVES RESTRICTIONS ON ENTRY RETURNS RISK MANAGEMENT RISK MANAGEMENT SYSTEM ROADS RURAL COMMUNITIES SAVINGS SECURITIES SECURITIES EXCHANGE SEWAGE STOCKS STREAMS SUSTAINABLE GROWTH TAX TAX ADMINISTRATION TAX COLLECTION TAX COLLECTIONS TAX EXEMPTIONS TAX POLICY TAX RATE TAX REVENUES TAX SYSTEM TELECOMMUNICATIONS TRANSACTIONS LAW TRANSFER PAYMENT TRANSFER PAYMENTS TRANSPORT UNEMPLOYMENT UNEMPLOYMENT RATE UNEMPLOYMENT RATES UNION USER FEES WAGES WASTE MANAGEMENT WATER SUPPLY
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Washington, DC
Middle East and North Africa | West Bank and Gaza
2017-06-14T21:41:22Z | 2017-06-14T21:41:22Z | 2012-03-21

This report begins by documenting the Palestinian Authority's (PA's) ongoing fiscal crisis that threatens its ability to provide basic services to the population. In 2011, the PA required about US$1.5 billion dollars in budget support, of which US$200 million to cover development expenses not funded directly by donors. However, it only received about US$814 million in budget support and US$169 million in development financing, for a total of US$983 million. Ultimately, the PA can only hope to achieve fiscal sustainability through a combination of sustained private sector growth and continued internal reforms. Robust private sector growth is necessary for the PA to generate the revenues needed to sustain service delivery. Yet the private sector remains stifled as a result of Israeli restrictions on access to natural resources and markets. The West Bank has experienced a slowdown in economic growth in 2011, combined with double-digit growth in Gaza. The recovery in Gaza can be attributed to a combination of aid inflows and easing of restrictions on entry of goods from Israel-though it is important to keep in mind that the average Gaza today is worse off than s/he was back in the late nineties. The recent growth in Gaza is also driven largely by a boom in the construction sector, and Gaza infrastructure exhibits such gaps and disrepair that major investments are necessary and would generate important employment as well as future growth. The slowdown in growth in the West Bank, on the other hand, is the result of falling donor support, uncertainty caused by the PA's fiscal crisis, and lack of significant new easing of restrictions by the Government of Israel (GoI).

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