Palestinian Prime Minister Mohammad Shtayyeh expected the Palestinian economy to grow by 4 percent during the current year 2022.
Shtayyeh stressed that "the growth expectations of the Palestinian economy depend on a middle scenario between optimism and pessimism, where the value of the gross national income and the national available national income in the Palestinian territories is expected to rise by 2.3 percent to 2.4 percent, respectively, during 2022 compared to with the year 2021. At the end of last year, the Palestinian economy recorded a GDP growth of 7.6 percent, despite the financial crisis and the continuation of the Corona pandemic. Most of the economic activities in the Palestinian territories witnessed an increase in the added value, which led to an increase in the per capita GDP by 1.4 percent, thus increasing the level of public demand for the indicators of consumption and total investment by 11 percent.
The value of exports from the Palestinian territories increased last year by 14 percent, and imports by 9 percent, compared to the previous year. The total number of workers in Palestine also increased, bringing the unemployment rate down to 8.27 percent. As the rate decreased in the West Bank to reach about 17 percent, while in the Gaza Strip unemployment figures are still high, reaching 51 percent.
Source (Al-Sharq al-Awsat Newspaper, Edited)
