Palestinian Ministry of Finance pays 70 percent of June salaries amid financial crisis
Date
8/11/2024 9:32:39 AM
(MENAFN) On Thursday, the Palestinian Ministry of Finance announced that it will disburse 70 percent of June salaries for Palestinian Authority employees in both civil and military sectors, as the Authority continues to grapple with a severe financial crisis. The ministry stated that payments would be made available through ATMs on Thursday evening and at banks on Sunday. Employees will receive at least 3,000 shekels (approximately USD795), with those earning below this threshold receiving their full salary.
The ministry clarified that, under this plan, more than half of the employees would receive their entire salary, as their monthly wages do not exceed 3,000 shekels. The remaining unpaid amounts will be settled as soon as financial conditions permit. This measure reflects the Authority's ongoing struggle to manage its financial obligations amidst significant budgetary constraints.
The Palestinian Authority largely depends on tax revenues, which are collected by Israel on its behalf, for salary payments and operational expenses. However, delays in the transfer of these funds have caused financial strain, leading to the Authority’s difficulty in meeting its commitments to employees and private sector suppliers. The withheld clearance funds, totaling six billion shekels, and Israel's decision last year to withhold payments related to Palestinian families and prisoners, have exacerbated the financial challenges faced by the Authority.
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