The Palestinian Ministry of Finance predicted that the total budget deficit of the Palestinian Authority this year will increase by 172 percent compared to last year. According to the ministry, revenues are expected to decline by 21 percent as a result of the Israeli military war in the Gaza Strip.
Palestinian President Mahmoud Abbas approved the 2024 emergency budget, which includes austerity measures including reducing salaries and wages, operational and capital expenditures, and maintaining minimum development expenditures. The PA has not been able to pay public sector salaries in full since 2022 due to declining aid and the Israeli enemy's withholding of tax funds.
Source (Al Arabiya.net Website, Edited)
