BREAKING NEWS

Kerry presents plan to develop Palestinian economy

MAY 26, 2013 21:07

US Secretary of State John Kerry presented on Sunday a plan to develop a "healthy and sustainable" private sector-led Palestinian economy.

According to Kerry, both Palestinian Authority President Mahmoud Abbas and Prime Minister Binyamin Netanyahu support the plan, that was developed by the Quartet’s Middle East peace envoy Tony Blair.

The plan, Kerry said, would transform the future of a Palestinian state and allow it to stand on its own two feet economically.

It would mobilize $4 billion on investments in the private Palestinian sector, grow the GDP in 50% and cut unemployment in 2/3rds.

The US secretary of state asserted that an investment in the economy is an investment in peace, but that the economy will not bloom without a two-state solution.

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