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Palestinian Economic News

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New Shocks to Gaza’s Devastated Economy The recent escalation of military confrontation between Israel and Hamas, the fourth of its kind since 2009, left over 270 Palestinians dead and more than 2,000 injured.1 In Israel, 12 casualties in total have been reported.2 Between 10-21 May, intensive Israeli airstrikes and shelling destroyed the homes and livelihoods of many Palestinians, causing long-lasting physical and psychological injuries and exacerbating the prolonged humanitarian crisis in the besieged coastal enclave where 65% of the population is living in poverty according to the World Bank Group.3 Over 113,000 people were internally displaced for the duration of the hostilities and around 8,500 people were still displaced with host families as at 3 June.4 Prospects for the recovery of Gaza’s economy, already devastated due to the Coronavirus Pandemic on top of a 16-year blockade imposed by Israel and Egypt, have now been set back yet again.

PNA Budget for 2021 Announced On 29 March, the Palestinian Council of Ministers approved the public budget for the 2021 fiscal year with an expected deficit of approximately $1.7bn, a 4.4% increase compared to 2020.1 Prime Minister Mohammad Shtayyeh explained that the Government would try to bridge this gap through continued administrative and financial reforms

Over the past two decades, the Palestinian Information and Communication Technology (ICT) sector

On 23 February, the Ad Hoc Liaison Committee (AHLC) convened via video conference to discuss the economic and humanitarian situation in Palestine. The AHLC is a 15-member group of donor and

On 17 January, the Palestinian Investment Fund (PIF), Palestine’s sovereign wealth fund, launched the second phase of its emergency lending programme “Esnad” for the benefit of 1,000 small and medium enterprises

According to provisional estimates by the Palestinian Central Bureau of Statistics (PCBS) and the Palestine Monetary Authority (PMA), real GDP1 decreased by 11.6% during 2020, with gross

On 2 December, the Government of Israel (GoI) transferred $1.14bn in clearance tax revenues to the Palestinian National Authority (PNA), ending six months of political and economic standoff. The decision by the PNA

On 18 October, Israeli Communications Minister, Yoaz Hendel, granted the Israeli telecommunications company, Bezeq, a license to operate in Area C of the West Bank.1 The license was issued to enable the provision

The COVID-19 pandemic has had a significant socio-economic impact globally, and Palestine is no exception. Due to the downturn in business activity, rising uncertainty, and closures to combat the pandemic, the livelihoods of many families in Palestine are at risk with tens of thousands of families sinking into poverty

By 23 September, the total cases of COVID-19 in Palestine reached 37,083, an 20.8% increase compared to the preceding month, following the emergence of a first wave of community infections in the Gaza Strip

By 26 August, the total cases of COVID-19 in the West Bank and Gaza Strip reached 25,024, rising at an alarming rate from 3,095 at the beginning of July, and putting the Palestinian health system and society under further pressure.

On 1 July, the Palestinian National Authority (PNA) re-imposed complete lockdown in the West Bank for 11 days in response to soaring numbers of COVID-19 cases. As of 29 July,