Report: Saudis agree to donate $100m. to close PA deficit

By JPOST.COM STAFF
October 24, 2010 15:55

 
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Saudi Arabia had agreed to donate $100 million in "in addition to other commitment it had made to the PA treasury," Palestinian Authority Prime Minister Salam Fayyad told Reuters on Sunday.

The money comes at a welcome time as the PA tries to close a projected budget deficit of $1.2 billion for the fiscal year 2010, according to the report. The financial squeeze has largely come to long delays in promised funds from Gulf state-backers, particularly Saudi Arabia and the United Arab Emirates.

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