Nov. 17, 2016
- Israel Comes to the Aid of the Faltering Palestinian Economy – Rory Jones
Faced with increasingly dire economic conditions in the Palestinian territories, Israel is trying to keep the cash-strapped Palestinian Authority afloat as donor aid plummets. That assistance is forecast to fall to $600 million this year, less than half the amount three years ago, according to the World Bank.
Under the Oslo Accords, Israel levies taxes on goods and services imported into the territories, and collects health, social security and other benefits from firms in Israel that employ Palestinians. Using that mechanism, Israel so far this year has transferred $262 million, nearly 8% of total Palestinian revenues, to the PA. (Wall Street Journal)