Fayad: 'PA running on 25% of necessary funds'

Speaking before a fundraising trip to Europe, Palestinian Finance Minister Salam Fayad said that the Palestinian Authority is operating on a quarter of the funds it needs to finance its activities, Israel Radio reported on Tuesday afternoon. "Minimally, I estimate expenditures of the Palestinian Authority at $160 million a month at present. What we have is no more than $40 million a month," Fayad said.