Sunday, 24 October 2021 08:39 GMT

Financial circumstances in Palestine might get worse

(MENAFN) On Wednesday, Sep. 22 Palestinian Finance Minister Shukri Bishara cautioned that the financial circumstances of the Palestinian Authority (PA) might get worse unless Israel put an end to holding its tax proceeds dues.

Bishara cautioned "if Israel doesn't release the money that it holds in the coming weeks, the financial situation will witness more complexity," further saying that there is a necessity to reform the financial ties with Israel and the payment mechanism.

He shared the remarks in a press report released after he convened at his office in the West Bank city of Ramallah with envoys of donors, like the European Union, the World Bank, the International Monetary Fund and the United Nations.

Israel gathers taxes from the Palestinian trade for the PA and pays it back to the Palestinian administration, based on the economic deal inked in Paris between Israel and the Palestinians in 1994.

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