Despite austerity measures due to decreased foreign aid, PA payments in salaries projected to increase by 3.1%
“The [PA] government continued to discuss the general budget proposal of the State of Palestine for the 2017 financial year. According to the forecasts, the gross income will stand at 13.72 billion [Israeli] shekels (25.6% of the GDP) [parentheses in source], that is to say an increase of 6% compared to 2016, when [the gross income] stood at 12.95 billion shekels. This is while the net income will stand at 13.37 billion shekels (25% of the GDP) [parentheses in source], that is to say an increase of 6% compared to 2016, when [the net income] stood at 12.6 billion shekels.
Regarding the gross domestic income, it is expected to reach 4.94 billion shekels, that is to say an increase of 23% compared to 2016, when it stood at 4 billion shekels.
The clearing income (that Israel collects for the PA –Ed.) is expected to reach 8.77 billion shekels, a decrease of 2% compared to 2016, when it stood at 8.9 billion shekels…
The net total of expenses and loans is expected to reach 16.1 billion shekels in 2017, an increase of just 1% compared to 2016. The cost of salaries and wages is expected to reach 8.1 billion shekels (15.1% of the GDP) [parentheses in source], an increase of 3.1% compared to 2015 (sic., should be 2016)…
According to these figures, the joint deficit is expected to reach 2.76 billion shekels, a decrease of 18% compared to 2016. Together with the expected development projects, whose cost is 1.36 billion shekels, the total deficit is expected to reach 4.12 billion shekels, a decrease of 9% compared to 2016.
Regarding the foreign funding supporting the budget, it is not expected to exceed $500 million, and $92 million for funding development projects through the treasury’s coffers.
Regarding paying the debt balances, $300 million will be allocated for payment of the debt balances to the private sector. Therefore, as a result of the great decrease in the foreign funding for the budget, the funding gap will stand at $765 million, which will obligate the government to take austerity measures in all fields.”
Regarding the gross domestic income, it is expected to reach 4.94 billion shekels, that is to say an increase of 23% compared to 2016, when it stood at 4 billion shekels.
The clearing income (that Israel collects for the PA –Ed.) is expected to reach 8.77 billion shekels, a decrease of 2% compared to 2016, when it stood at 8.9 billion shekels…
The net total of expenses and loans is expected to reach 16.1 billion shekels in 2017, an increase of just 1% compared to 2016. The cost of salaries and wages is expected to reach 8.1 billion shekels (15.1% of the GDP) [parentheses in source], an increase of 3.1% compared to 2015 (sic., should be 2016)…
According to these figures, the joint deficit is expected to reach 2.76 billion shekels, a decrease of 18% compared to 2016. Together with the expected development projects, whose cost is 1.36 billion shekels, the total deficit is expected to reach 4.12 billion shekels, a decrease of 9% compared to 2016.
Regarding the foreign funding supporting the budget, it is not expected to exceed $500 million, and $92 million for funding development projects through the treasury’s coffers.
Regarding paying the debt balances, $300 million will be allocated for payment of the debt balances to the private sector. Therefore, as a result of the great decrease in the foreign funding for the budget, the funding gap will stand at $765 million, which will obligate the government to take austerity measures in all fields.”