(Versions in عربي)
It was an early spring morning in East Jerusalem in 2011, and we were wrapping up our two-week mission with a presentation to donor representatives on the Palestinian economy’s health. Our audience appeared encouraged by our assessment of performance over the previous three years (2008–10): the economy had been recovering strongly, supported by generous aid and an easing of Israeli restrictions on movement and trade.
And the Palestinian Authority had made impressive progress in institution-building, which alongside prudent fiscal management, had enhanced public-sector efficiency, reduced wasteful expenditure, and enabled a reduction in its recurrent budget deficit from US$1.7 billion in 2008 to US$1.1 billion in 2010.
Filed under: Debt Relief, Economic Crisis, Employment, Financial Crisis, Fiscal policy, growth, International Monetary Fund, Middle East, Politics, Public debt, عربي | Tagged: aid, debt, Gaza, Israel, Jerusalem, jobs, Mariusz Sumlinski, Oussama Kanaan, Palestinian Authority, trade, Udo Kock, unemployment, West Bank | Leave a comment »