Palestinian GDP drops over $1 billion in past year

By
October 28, 2006 13:32

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user uxperience almost completely free of ads
  • Access to our Premium Section and our monthly magazine to learn Hebrew, Ivrit
  • Content from the award-winning Jerusalem Repor
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

The gross domestic product (GDP) of the West Bank and Gaza Strip dropped from $4.04 (€3.2) billion to $2.9 (€2.3) billion in the past year, a decline of 28 percent, a senior Palestinian official said Saturday. Investments dropped by 60 percent, from $1 billion to $400 million, in the same period, said Saeb Erekat, the chief Palestinian negotiator with Israel. Erekat cited the international aid freeze, imposed after the ascension of the Islamic organization Hamas to power, and Israeli security closures for the economic decline. Hamas won parliament elections in January and assumed power in March. Erekat is an aide to moderate Palestinian President Mahmoud Abbas, who was elected separately in 2005. Erekat said that if the economic decline continues, the Palestinian areas face "total collapse."

Related Content

cannabis weed marijuana medical plant pot joint
July 18, 2018
Lebanon to consider legalizing cannabis growing

By REUTERS