Fiscal Crisis, Economic Prospects : The Imperative for Economic Cohesion in the Palestinian Territories, Economic Monitoring Report to the Ad Hoc Liaison Committee

Fiscal Crisis, Economic Prospects : The Imperative for Economic Cohesion in the Palestinian Territories, Economic Monitoring Report to the Ad Hoc Liaison Committee

Economic growth in West Bank and Gaza (WB&G) slowed in the first quarter (Q1) of 2012. The real growth rate is estimated to have reached 5.6 percent, more than three percentage points lower than the Q1 2011 growth figure and almost one percent...

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Bibliographic Details
Main Author:	World Bank
Format:	Report
Language:	English en_US
Published:	World Bank, Washington, DC 2016
Subjects:	ACCESS TO RESOURCES ADVANCED TECHNOLOGIES AGRICULTURAL PRODUCTS AIR AIR TRAVEL ANTI-MONEY LAUNDERING APPLICATION PROCESS ARCHAEOLOGICAL SITES ARREARS BANK HOLDING BANK OF ISRAEL BANKING SECTOR BANKING SYSTEM BANKS BINDING CONSTRAINT BONDED WAREHOUSES BORROWING BUDGET DEFICIT BUSINESS OPPORTUNITIES BUSINESSES BUYER CAPABILITIES CAPABILITY CAPITAL EXPENDITURES CAR CARRIERS CASH TRANSFER CELL PHONES CENTRAL BANK CIVIL SERVICE COLLECTION PROCESS COMMUNICATION SERVICES COMPETITIVENESS CONGESTION CONSUMER GOODS CREDIBILITY CREDIT FACILITIES CROSSING CROSSINGS CUSTOMER BASE CUSTOMS DEBT DEPOSIT DEPOSIT INSURANCE DISPARITIES IN ACCESS DONOR FUNDING DONOR SUPPORT DRIVING ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC DEVELOPMENTS ECONOMIC GROWTH ECONOMIES OF SCALE ELECTRICITY EMPLOYMENT EXCHANGE RATE EXCISE TAX EXPENDITURE EXPLOITATION EXPORT MARKETS FARMERS FINANCIAL INTERMEDIATION FINANCIAL SUPPORT FINANCING NEED FISCAL REFORM FISCAL REFORMS FOREIGN DIRECT INVESTMENT FOREIGN INVESTORS FORMAL BANKING FUEL GEOGRAPHICAL AREAS GROSS DOMESTIC PRODUCT GROWTH POTENTIAL HIGH INTEREST RATES HOUSEHOLDS HOUSING IMPORT DUTIES INCOME CATEGORIES INCOME TAX INDUSTRIAL DEVELOPMENT INDUSTRIAL ENTERPRISES INFRASTRUCTURE INVESTMENT INFRASTRUCTURE PROJECTS INSTITUTION INSTITUTIONAL CAPACITY INSURANCE INTEREST RATES INTERNATIONAL DEVELOPMENT INTERNATIONAL MARKETS INTERNATIONAL STANDARDS INVESTMENT FUND JOB CREATION JOB OPPORTUNITIES JOINT VENTURES LABOR FORCE PARTICIPATION LABOR FORCE SURVEY LACK OF ACCESS LAND ADMINISTRATION LAND DEVELOPMENT LAND REGISTRATION LAWS LEGISLATIVE FRAMEWORK LICENSE LOAN LOAN DELINQUENCY LOAN-TO-DEPOSIT RATIO LOCAL DEBT LOCAL GOVERNMENTS MANUFACTURING MATERIAL MEDIUM ENTERPRISE MEDIUM ENTERPRISES MONETARY AUTHORITY MONETARY FUND MUNICIPALITIES NATURAL RESOURCES NEIGHBORHOODS NETWORKS NONPERFORMING LOANS PAYMENT OF WAGES PAYMENT SYSTEM PENSION PENSION SYSTEM PENSIONS PERSONAL BANKING PERSONAL COMMUNICATION PHONE PLEDGES POLITICAL RISKS PORTFOLIOS PRIVATE INVESTMENT PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT PRIVATE SECTOR FIRMS PRIVATE SECTOR INVESTMENT PRIVATE VEHICLES PROJECT MANAGEMENT PROPERTY TAX PUBLIC ADMINISTRATION QUALITY OF SERVICE REAL ESTATE RECEIPTS RECURRENT DEFICIT RECURRENT EXPENDITURE RESERVES RESULT RESULTS RETAIL TRADE RETURN ROAD ROAD NETWORK ROADS ROUTE SAFETY SAVINGS SETTLEMENT SMALL ENTERPRISES SMART PHONES SOURCE OF INCOME SUPERVISION TAX ADMINISTRATION TAX COLLECTIONS TAX RATE TECHNICAL ASSISTANCE TELECOM TELECOMMUNICATIONS TELECOMMUNICATIONS COMPANIES TELECOMMUNICATIONS INDUSTRY TELECOMMUNICATIONS INFRASTRUCTURE TELECOMMUNICATIONS SYSTEM TERM CREDIT TRANSFER PAYMENT TRANSFER PAYMENTS TRANSMISSION TRANSPORT TRANSPORTATION TRANSPORTATION COSTS TRAVEL TIME TREASURY TUNNELS UNDERGROUND UNEMPLOYMENT VILLAGES WAGES WAREHOUSES WEB WIRELESS COMMUNICATIONS
Online Access:	http://documents.worldbank.org/curated/en/2012/09/17451645/fiscal-crisis-economic-prospects-imperative-economic-cohesion-palestinian-territories-economic-monitoring-report-ad-hoc-liaison-committee http://hdl.handle.net/10986/23992

Description
Summary:	Economic growth in West Bank and Gaza (WB&G) slowed in the first quarter (Q1) of 2012. The real growth rate is estimated to have reached 5.6 percent, more than three percentage points lower than the Q1 2011 growth figure and almost one percent lower than the growth forecast contained in the Palestinian Authority's (PA's) budget. This decline is attributed to a major slowdown in Gaza, where real growth decreased from 21.3 percent to 6 percent on a year-on-year basis. The slowdown in Gaza during Q1 of 2012 was mainly attributed to a major decline in the agriculture and fishing sector, which offset much of the growth witnessed in other sectors. This sector shrank by 43 percent in Q1 2012 due to frequent power outages resulting from the lack of fuel in Gaza. Nevertheless, other sectors in Gaza expanded and the highest growth levels were witnessed in the construction, and hotels and restaurants sectors. In the West Bank, growth in Q1 2012 was broadly unchanged from its 2011 level. Most of the growth was from an expansion of services, which contributed around 2.2 percentage points of the 5.4 percent total growth in Q1 2012. The recent slowdown in economic growth is also reflected in higher unemployment levels. Overall unemployment in WB&G was 20.9 percent in the second quarter of 2012 compared to 18.7 percent during the same period in 2011. A serious concern in WB&G is the high level of youth unemployment that is accompanied by low youth participation in the labor force.