On Thursday, United Nations Middle East envoy Terje Roed-Larsen declared that the Palestinian economy has suffered a $3.4 billion loss during the last year, and 46 percent of Palestinians are living in poverty. He added the Gaza Strip was worst hit, with adjusted unemployment rates amounting to 50 percent.
Meanwhile, Sweden announced it would boost its aid to the Palestinians by 60 million kronor ($5.7 million) next year, the Foreign Ministry said Thursday. This move is meant to address the difficult financial situation and the general economic crisis that has hit Palestinians because of Israel's occupation policy, the ministry stated in a news release.
The funds will be administered by the Swedish International Development Assistance Agency along with earlier grants of 140 million kronor (about $13 million) for 2002. (Albawaba.com)
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