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Minister says PA financial crisis is structural
Published Wednesday 23/01/2013 (updated) 27/01/2013 16:33
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A woman makes a withdrawal at a bank in Ramallah, Jan. 22.
(Reuters/Mohamad Torokman)
RAMALLAH (Ma'an) -- The Palestinian Authority's financial crisis is structural, the finance minister said Wednesday, adding that the deficit has exceeded $1.4 billion.

"A structural solution is needed in order to fill the gap between expenses and revenue," Nabil Qassis told a committee of lawmakers in Ramallah.

Qassis told the committee, headed by the speaker of Fatah's bloc in the Palestinian Legislative Council Azzam al-Ahmad, that several measures should be taken to decrease the deficit.

"We need to stop exhausting the government's capacities and to decrease the budget deficit which has exceeded $1.4 billion."

The finance minister criticized the general culture which he said exhausted the PA's resources and increased the deficit.

Qassis called for greater cooperation between his ministry and the PLC to find solutions and minimize expenses.

The minister said the 2013 budget had not yet been completed because of the "foggy" financial situation caused by the current crisis.

However, he said he expected the budget deficit to be similar to that of 2012 despite a 9 percent rise in government income.
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1 ) Tibi / Tubas
23/01/2013 23:05
The PA's FAILED BEGGING crisis is structural, but the lack of money is real, and unsustainable.

2 ) Yehuda Solomon / Israel
24/01/2013 06:02
Here comes the barrage of condemnation directed towards us !!!!!! I acknowledge we are to blame for many of the economic ills burdening the Palestinians. [As I've said constantly since we began it, we should NOT be withholding their tax revenues because of their U.N. upgrade despite the debts they owed our electricity provider. Yes, the debts are being paid (good) but that's being done by sacrificing much-needed Palestinian revenue (bad) that, if paid, could go for higher priorities (cont.)

3 ) Yehuda Solomon / Israel
24/01/2013 06:23
in the Palestinian budget.] There is a plethora of fault that everyone can lay on us and much would have merit. The honest, bottom line is that, yes, if we we'd give the Palestinians everything they demand politically and economically--and REAL peace would exist--there WOULD be a high probability their economic condition would vastly improve. So what's our problem ??? ... Answer: We're not going to meet their demands west of the Jordan River; that's for the EAST bank to do, Jordan/Palestine.

4 ) Pro Pal / UK
25/01/2013 10:15
Pals dont need economic jargon.Give them money for food. Not for big cars or London made suits. They are starving.

5 ) I'm a scorpion / Its what I do.
30/01/2013 17:20
Hey Yahuda, you remind me of that frog trying to do a deal with the scorpion.
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