World Bank says Palestinian economy unsustainable
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The World Bank says the Palestinian economy's recent growth is unsustainable because of its heavy reliance on foreign aid.
Donor countries have propped the Palestinian economy by giving billions of dollars. In a report issued Wednesday, the World Bank says the aid has led to 7.7% gross domestic product growth between 2007 and 2011, but only in government services, real estate and other non-tradable sectors. In contrast, it said manufacturing and agriculture have dropped significantly. (AP)
