Young Journalists Club | Latest news of Iran and world

News ID: 44410
Publish Date: 8:10 - 03 December 2019
TEHRAN, Dec 3_A UN report says the Israeli regime’s occupation has cost the Palestinian economy more than 2.5 billions of dollars on a yearly basis for the nearly past two decades, and it continues to rise.

Palestinian economy sustains $2.5bn yearly revenues loss due to Israeli occupation: UNTEHRAN, Young Journalists Club(YJC)_The report by the United Nations Conference on Trade and Development (UNCTAD), titled 'Economic cost of the Israeli occupation for the Palestinian people: Fiscal aspects' said on Monday that the total fiscal loss for the Palestinian government between 2000 and 2017 was estimated at $47.7 billion.

The report added that the figure is almost thrice the size of the Palestinian economy in 2017, and it comprises lost public revenues and interest payments.

It further noted that the estimated cumulative fiscal cost of occupation includes $28 billion in accrued interest, and $6.6 billion in leakage from Palestinian fiscal revenues.

It said the amount would have been enough to eliminate the Palestinian government's $17.7 billion budget deficit over the same period, but would have also generated a surplus nearly twice the size of the deficit. 

The UN report also highlighted that the Palestinian economy would have generated 2 million job opportunities over the 18-year period, an average of 111,000 jobs each year, if the $48 billion fiscal costs were not lost but instead injected through expansionary fiscal policies.

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