COVID-19 compounds economic crises in Yemen, Jordan, Palestine- Al Monitor
The World Bank reports that the Palestinian economy is headed for an alarming downturn in an already dire situation because of COVID-19.
According to the bank, the Palestinian economy is expected to shrink between 7.5% and 11% this year. A decline in revenues and increased spending to deal with the pandemic could lead to the Palestinian Authority budget deficit increasing from $800 million in 2019 to $1.5 billion in 2020. The percentage of poor households is projected to rise to 30% in the West Bank and 64% in Gaza. Youth unemployment is 38%. The report recommends that Israel and the PA agree on a new process on exit fees for the Allenby/King Hussein Bridge and that the PA shift to less regulation and take steps toward a digitally based economy.
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▻https://www.al-monitor.com/pulse/originals/2020/06/covid19-economic-crisis-yemen-jordan-palestine-guterres.html