Ramallah, December 27 (QNA) – The Palestinian economy achieved a growth of about 3.6 percent in 2022, despite facing complex difficulties, foremost of which is the Israeli occupation, decline in international support, and the consequences of the Covid-19 pandemic.
The Palestinian Prime Minister Mohammad Shtayyeh stated during a meeting with members of his government today, that his country’s economy and financial budget faced complex crises during the current year, due to the significant decline in international aid, the continuation of Israeli deductions, the piracy of Palestinian funds, and the repercussions of the Covid-19 crisis and the Ukrainian war.
He considered that the growth rate achieved this year was high compared to many countries, as it reached 3.6 percent, pointing to the increase in the level of investment by 15.3 percent, just as the contribution of industry to the gross domestic product increased to become 11 percent, the contribution of agriculture grew to become 6.2 percent.
Palestinian Prime Minister pointed out that unemployment in the West Bank decreased from 19 percent to become 12.6 percent, but remained high in the Gaza Strip due to the blockade and division, standing at a rate of about 46.6 percent. He added that exports increased by 7.3 percent, and imports by 16.9 percent, stressing that measures were taken in order to subsidize and counter inflation, in an effort to prevent price hikes.
Shtayyeh noted that despite the improvement in economic performance, the budget deficit still remained due to the decline in international aid and the financial deductions from Palestinian funds made by the occupation, however, expenditures were rationalized to face this deficit, expressing his hope that the flow of international aid would be restored, specially aid from Arab countries, during the next year so that the Palestinian Authority could overcome this difficult period and strengthen the steadfastness of the people of Jerusalem, Gaza and all parts of the occupied territories, which are facing an unprecedented settlement attack.
Palestinian Prime Minister said that regardless of the intensity of the financial war and the deductions on the authority’s funds, his government affirms its commitment to employees and the families of martyrs and prisoners, noting that he had signed an ambitious reform plan in order to rationalize public money.
(QNA)