Monday 16 December 2019
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The News - 13 days ago

Israeli occupation costs Palestinian economy $2.5 billion a year: UN

RAMALLAH, Palestinian Territories: Israel s occupation of the Palestinian territories has cost the economy of the Palestinians more than $2.5 billion a year for the past two decades, a UN report said.The United Nations Conference on Trade and Development report estimated the total fiscal loss to the Palestinian government between 2000 and 2017 at $47.7 billion. The figure included $28 billion in accrued interest and $6.6 billion in leakage from Palestinian fiscal revenues.It said the amount would have been enough to eliminate the Palestinian government s $17.7 billion budget deficit over the same period more than twice over. The report argued if the $47 billion had been invested sensibly in the impoverished Palestinian economy, it would have created an extra two million jobs over the 18-year period, or 110,000 a year. The report was presented at the Palestine Economic Policy Research Institute (MAS) in the West Bank city of Ramallah, home to the Palestinian government.


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