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World Bank: Palestinian economy to shrink in 2014

 

RAMALLAH - The Palestinian economy is expected to contract for the first time in seven years in 2014, the result of the recent Gaza war, continued Israeli and Egyptian restrictions on Palestinian trade and a drop in foreign aid, the World Bank said Tuesday.

 

The bank issued the report ahead of a meeting next week of donor nations to the Palestinians on the sidelines of the UN General Assembly.

 

The bleak forecast is a "wake-up call to everyone" that the status quo, particularly in Gaza, cannot continue, Steen Lau Jorgensen, the bank's top official in the West Bank and Gaza, told The Associated Press.

 


פרסום ראשון: 09.16.14, 18:33