2012-03-16 11:51:06

Palestinians face budget shortfall


The World Bank this week said the Palestinian economy faces a deepening crisis unless foreign support grows and Israel eases restrictions on its trade. The Palestinian Authority is relying on foreign aid to cover a 2012 budget deficit projected to reach over $1 billion, but most donor countries have not fulfilled their pledges.

Meanwhile, the United Nations relief agency for Palestinian refugees says it needs approximately $75 million to help support schools and health clinics for the almost five million Palestinian refugees.

The head of the agency, Filippo Grandi, appealed to emerging economies to help fill the agency's budgetary shortfall.

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