World Bank calls for steps to bolster Palestinian economy


Gaza Strip during electricity crisis (Photo: EPA)

YNet News: Even in the absence of an Israeli-Palestinian peace deal, steps can be taken now that could significantly brighten a gloomy Palestinian economic situation, the World Bank said on Tuesday.

In a new report it said addressing external constraints on the Palestinian economy “is the most important factor” in any turnaround, but the Palestinian Authority, which administers limited self-rule in the West Bank, also had to do its part to cut red tape stifling business activity.

Removing Israeli restrictions on Palestinian movement in so-called Area C in the West Bank—where Israel maintains civil and security control—could boost the size of the West Bank economy by one-third in eight years, the World Bank said.

Opinion: Area C is an administrative division of the West Bank, set out in the failed Oslo II Accords. Area C constitutes about 61 percent of the West Bank territory.

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Removing restrictions on Palestinian movement is a recipe for increased arms shipments and terror attacks on Israeli citizens, which the progressives at World Bank are not the least bit concerned about.

What does concern them, however, is stagnant economic growth in gross domestic product (GDP).

 “Real GDP growth of the Palestinian economy is projected to reach 3.0 percent in 2017: 2.7 percent in the West Bank and 4.0 percent in Gaza,” the report said.”

Perhaps World Bank liberal progressives should be concerned about the US GDP since under the 8 years of Barry Obama the economy grew at 1.48%. And while they’re at it, perhaps someone could explain to these poor impoverished people how spending $100 million per year on terror tunnels and missiles helps the economy.