IMF Staff Concludes Visit to West Bank and Gaza-continued

February 20, 2018--With growth slowing and scarce economic and financial buffers, the strained geopolitical situation is testing the resilience of the Palestinian economy.
Reunifying the West Bank and Gaza under a single administration could provide a modest boost to growth, but managing the budgetary costs will not be easy.
This will require a fundamental shift by all parties-deeper reforms by the Palestinian Authority, stronger Israeli cooperation on fiscal leakages, and revived donor engagement.

An International Monetary Fund (IMF) staff team led by Karen Ongley visited East Jerusalem and Ramallah during February 4-14, 2018, to assess recent economic developments in the West Bank and Gaza. The IMF team met with Finance Minister Shukry Bishara, Governor Azzam Shawwa, and other Palestinian officials. At the end of the visit, Ms. Ongley issued the following statement:
"Strains on the Palestinian economy became more evident during 2017. While the authorities see somewhat higher growth, staff estimates that growth slowed to close to 3 percent. Liquidity constraints and fewer economic buffers held back consumption and investment, most acutely in Gaza."

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Source: IMF


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