Arab Today, arab today israel causing ‘lasting damage’ to palestinian economy
Last Updated : GMT 18:22:17
Arab Today, arab today
Arab Today, arab today

World Bank report warns of deterioration in 2013

Israel causing ‘lasting damage’ to Palestinian economy

Arab Today, arab today

Arab Today, arab today Israel causing ‘lasting damage’ to Palestinian economy

Stagnant economic growth has effected Palestine’s competitiveness
Jerusalem – Arabstoday

Stagnant economic growth has effected Palestine’s competitiveness Jerusalem – Arabstoday Israeli restrictions and closures coupled with the worsening fiscal situation of the Palestinian Authority is causing \"lasting damage\" to the competitiveness of the Palestinian economy, the World Bank warned on Tuesday. In a report issued ahead of a meeting of international donors in Brussels on March 19, the World Bank explored the long-term damage to the competitiveness of the economy as a result of the worsening financial crisis facing the Ramallah-based government and the absence of peace talks, which have been stalled since late September 2010.
And it warned that the fiscal stress \"could worsen in 2013.\"
\"While urgent attention to the short-term financing shortfalls is essential, it is important to recognise that the continued existence of a system of closures and restrictions is creating lasting damage to economic competitiveness in the Palestinian Territories,\" the report\'s authors concluded.
\"The longer the current, restrictive situation persists, the more costly and time-consuming it will be to restore the productive capacity of the Palestinian economy.\"
Following robust GDP growth in recent years, economic activity significantly slowed in 2012, the report said.
\"This slowdown reflects in part the absence of further easing of Israeli restrictions, the withdrawal of fiscal stimulus due to a persistent shortfall in donor aid, and uncertainty created by the PA\'s fiscal challenges,\" it found.
The study showed the economy was in danger of losing its capacity to compete in a global market, with its ability to export goods and services having \"substantially deteriorated\" since the late 1990s.
A key aspect has been the decline of both the agriculture and manufacturing sectors with the share of exports in the Palestinian economy dropping from around 10 percent in 1996 to around seven percent in 2011 -- one of the lowest figures in the world.
Since the mid 1990s, the manufacturing sector has largely stagnated and over the same period, the productivity of the agricultural sector has roughly halved meaning the economy relies largely on food imports to meet its own needs.
A high level of unemployment is also having a negative impact on the long-term competitiveness of the economy, the report\'s authors say.
\"With low labour force participation and high rates and duration of unemployment, many Palestinians of working age do not have the opportunity to develop on-the-job skills,\" it said, meaning Palestinians\' long-term employability prospects were being eroded.
The quality of infrastructure in key sectors like water and transport is deteriorating and causing damage to the long-term viability of the economy, with the impact most severe in Gaza where \"significant resources are required\" to bring it up to a desirable level.
It suggested $870m was needed for Gaza\'s water and wastewater sector, $430m for municipal services, $200m for the electricity sector and $1bn for the road sector.
\"Continued financial support by the donor community and reform efforts by the PA are therefore essential to manage the financing shortfalls of today,\" the authors wrote, while stressing the need for much greater attention must be given to the removal of obstacles to allow real private sector-led growth.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today israel causing ‘lasting damage’ to palestinian economy Arab Today, arab today israel causing ‘lasting damage’ to palestinian economy

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Rebel supporters flood Yemen streets

GMT 06:39 2017 Monday ,27 March

Rebel supporters flood Yemen streets
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Nermein Al Fekki films “Foxes in the Valley”

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 20:03 2017 Saturday ,25 March

Health expert warns from dust sensitivity

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday