World Bank warns of dire outlook for Palestinian economy

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Fir3start3r
Armin Acolyte

Registered: Oct 2001
Location: Toronto, ON, Canada

World Bank warns of dire outlook for Palestinian economy

*BANG*

*WACK*

*BANG* *THUNK*

...damn sympathy meter must be broken...

quote:

World Bank warns of dire outlook for Palestinian economy

Thu Mar 16, 10:19 AM ET

The Palestinian economy risks implosion from an Israeli crackdown and threatened cuts in foreign aid following the election victory of hardline group Hamas, the World Bank said.

In the worst-case scenario, it said in a report for donor countries, unemployment among Palestinians will jump to about 40 percent this year and the percentage of those living below the poverty line will rise to 67.

The World Bank outlined four scenarios, with the worst and most likely being that Israel continues to withhold tax revenues owed to the Palestinian Authority (PA) and that Western governments cut their budget support.

Even under the best and improbable scenario of no abrupt change in funding for the PA, "Palestinian economic prospects are not good", the report said.

It noted that donor countries believe that growth in Palestinian gross domestic product (GDP) must reach 10 percent a year just to bring rampant unemployment down to acceptable levels.

But even with the most optimistic projections, the Bank sees growth in Palestinian GDP per capita falling from 6.3 percent last year to 4.9 percent in 2006, and then turning negative in subsequent years.

Continued Israeli withholding of PA customs revenues would reduce the authority's budget resources to 700-750 million dollars this year, compared with its draft 2006 budget of 1.9 billion dollars.

"A fiscal outlook of this nature is incompatible with continuity in essential government operations," the report warned.

Both the United States and European Union have threatened to cut their funding if the radical Islamist movement Hamas does not commit itself to non-violence and recognise Israel's right to exist before it forms a new government following its January election victory.

Hamas has brushed off the threats, saying it will look to other Arab and Muslim countries to meet any shortfall in funding.

Israel's decision to freeze the customs duties, worth around 50 million dollars a month, has already led to a delay in payments to government employees.

>>Source<<

___________________
"...End? No, the journey doesn't end here. Death is just another path...one that we all must take.
The grey rain-curtain of this world rolls back, and all change to silver glass...and then you see it...
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Mar-18-2006 03:44 Canada

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Cyrus King
Anti NeoCon Addict

Registered: Oct 2001
Location: Toronto

Re: World Bank warns of dire outlook for Palestinian economy

quote:
Originally posted by Fir3start3r
*BANG*

*WACK*

*BANG* *THUNK*

...damn sympathy meter must be broken...

>>Source<<

when its convenient for the united states, they support democracy.

___________________
"This place isn't big enough for me to blow it up."
-MARCO V

Mar-18-2006 18:08

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Fir3start3r
Armin Acolyte

Registered: Oct 2001
Location: Toronto, ON, Canada

Re: Re: World Bank warns of dire outlook for Palestinian economy

quote:
Originally posted by Cyrus King
when its convenient for the united states, they support democracy.

When Hamas decides to join the rest of the humanity and not condone terrorism, they'll get the help they deserve.

Mar-18-2006 22:26 Canada

Cyrus King
Anti NeoCon Addict

Registered: Oct 2001
Location: Toronto

Re: Re: Re: World Bank warns of dire outlook for Palestinian economy

quote:
Originally posted by Fir3start3r
When Hamas decides to join the rest of the humanity and not condone terrorism, they'll get the help they deserve.

When israel and the US joins the world by not blowing up places with their weapons and occupy land that isnt thiers and supporting STATE SPONSORED TERRORISM, then theyll get the respect they deserve.

When its convenient for the United states, thats when they support democracy.

___________________
"This place isn't big enough for me to blow it up."
-MARCO V

Mar-19-2006 04:23

shaolin_Z
Hei Hu Quan

Registered: Nov 2004
Location: Austin, Texas, USA: TXTA #102

Re: Re: Re: Re: World Bank warns of dire outlook for Palestinian economy

quote:
Originally posted by Cyrus King
When israel and the US joins the world by not blowing up places with their weapons and occupy land that isnt thiers and supporting STATE SPONSORED TERRORISM, then theyll get the respect they deserve.

When its convenient for the United states, thats when they support democracy.

Plus uno. I hope everyone gets their shit together.

___________________
"The Greatest enemy of knowledge is not ignorance, it is the illusion of knowledge." -Stephen Hawking
"First they came for the communists, and I did not speak out— because I was not a communist;
Then they came for the socialists, and I did not speak out— because I was not a socialist;
Then they came for the trade unionists, and I did not speak out— because I was not a trade unionist;
Then they came for the Jews, and I did not speak out— because I was not a Jew;
Then they came for me— and there was no one left to speak out for me." -Martin Niemöller

Mar-19-2006 06:52 United States

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killingjoke
tranceaddict

Registered: Jul 2005
Location: hobart,australia

i guess condi should eat bush's jockstraps.

Mar-19-2006 09:00 Australia

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Fir3start3r
Armin Acolyte

Registered: Oct 2001
Location: Toronto, ON, Canada

Re: Re: Re: Re: World Bank warns of dire outlook for Palestinian economy

quote:
Originally posted by Cyrus King
When israel and the US joins the world by not blowing up places with their weapons and occupy land that isnt thiers and supporting STATE SPONSORED TERRORISM, then theyll get the respect they deserve.

Trying to turn this into a circular argument isn't going to work Cyrus.
So how do you explain bombings in Britian, Turkey, Spain, Egypt and other countries, some of which are also Islamic.
Oh wait, that must be Bush too...
The Isrealis have a much right to be there as anyone else...

Mar-19-2006 16:39 Canada

Cyrus King
Anti NeoCon Addict

Registered: Oct 2001
Location: Toronto

Re: Re: Re: Re: Re: World Bank warns of dire outlook for Palestinian economy

quote:
Originally posted by Fir3start3r
Trying to turn this into a circular argument isn't going to work Cyrus.
So how do you explain bombings in Britian, Turkey, Spain, Egypt and other countries, some of which are also Islamic.
Oh wait, that must be Bush too...
The Isrealis have a much right to be there as anyone else...

Circular? Its the truth. most people have a singular definition of terrorism that has been shoved down the throats of everyone that has been affected by the american propaganda.

America and Israel are hypocrites. They conduct terrorism in their own militaristic way for thier own political reasons.

So back to my point.. when its convenient for the united states... they support democracy.

Hey... wait a minute.. i forgot.. im wrong!!! SAUDI ARABIA ISSSSSSSSS A DEMOCRACY!!!!

___________________
"This place isn't big enough for me to blow it up."
-MARCO V

Mar-19-2006 23:04

Goashem
oh yeah twitch it girl

Registered: Mar 2004
Location: Toronto

quote:
Israeli withholding of PA customs revenues

its one thing to stop financial support when its your own money, but what israel does is plain stealing!

___________________

"Let me guess, you picked out yet another colorful box with a crank that I'm expected to turn and turn until OOP! big shock, a jack pops out and you laugh and the kids laugh and the dog laughs and I die a little inside.".