PA bemoans huge deficit

“The [PA] Ministry of Finance revealed a financial deficit of 863 million [Israeli] shekels during last May [2020].

The ministry said in a post on its Facebook page yesterday [June 12, 2020]: ‘The revenue for May stood at 237 million shekels, including 137 million shekels of local revenues and 100 million shekels of external aid.’

This was while not even one shekel of the tax money was received, meaning a financial deficit of 863 million shekels during May 2020.

The ministry provided a review of the ministry’s regular monthly financial situation in terms of revenues and expenses. The total monthly revenues stand at 950 million shekels, including 550 million shekels from the tax revenues, 300 million shekels from local revenues, and 100 million [shekels] from external aid. The total monthly expenses stand at 1.1 billion shekels."