Palestinian Authority budget deficit hits $1b. mark

August 1, 2012 18:45

The deficit in the Palestinian Authority’s budget for 2012 has reached more than $1b., PA Finance Minister Nabil Qassis revealed Wednesday.

He said that a decrease in foreign aid and failure of donor countries to fulfill their financial pledges to the PA were behind the severe crisis hitting the government in Ramallah.Qassis told Palestinian legislators in Ramallah that the PA has reached understandings with Israel on ways of combating tax evasion.

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