A recently published Palestinian report to the Arab Labor Conference shows that the Palestinian economy lost seven billion dollars in 2001 due to Israeli closures, reported Al-Hayat . The report, which was presented by the Palestinian Treasury Minister and Labor Union Chief Director, also shows that the rate of unemployment in the Palestinian territories presently stands at 70 percent. It also reveals that two million Palestinians are currently living under the poverty line.
General revenues of the Palestinian Authority dropped to a monthly $20 million during the intifada, down from $90 million before the Intifada. The report also reveals that the Palestinian Authority incurs a monthly loss of $50 million due to the lack of customs and tax income. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
