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ISRAEL AT WAR - DAY 471

Palestinian economy

Illustrative: The arches of the Arab Bank building in East Jerusalem. (Shmuel Bar-Am)
November 28, 2024, 10:11 pm
Under US pressure, security cabinet extends Israel-PA bank ties deal by a year
Move pushed by Biden administration comes after Smotrich had insisted on month-by-month renewals; Ben Gvir votes against the measure he says will allow Ramallah to limp on
By Jacob Magid
Finance Minister Bezalel Smotrich leads a faction meeting of his Religious Zionism party at the Knesset, in Jerusalem, October 28, 2024. (Yonatan Sindel/Flash90)
October 31, 2024, 9:58 pm
Smotrich extends deal allowing Israel-PA bank ties, but only for 1 month, angering US
Official says move allows far-right minister to keep options open depending on who wins election, use issue as leverage when Biden weighs steps to boost Palestinian statehood
By Jacob Magid
Finance Minister Bezalel Smotrich attends a Knesset Finance Committee meeting, in Jerusalem, on September 16, 2024. (Yonatan Sindel/Flash90)
October 22, 2024, 10:19 am
US official: PA has met Israeli requirements for Smotrich to extend banking deal
Far-right minister has until October 31 to approve deal allowing Israeli, Palestinian banks to work together; US warns failure to do so could lead to West Bank economic crisis
By Jacob Magid
A Palestinian man climbs the security barrier at the West Bank town of al-Ram to illegally cross into Israel, September 15, 2024. (AP Photo/Mahmoud Illean)
October 3, 2024, 5:57 pm
Amid failing economy, West Bank Palestinians risk crossing security barrier into Israel
After pre-Oct. 7 employment in Israel vanished and debts started piling up, many chance arrest or death to find jobs, sometimes with help of smuggling gangs
By AP and ToI Staff
Finance Minister Bezalel Smotrich attends a Knesset Finance Committee meeting in Jerusalem, September 16, 2024. (Yonatan Sindel/Flash90)
September 21, 2024, 3:40 am
US concerned Smotrich may try to collapse Palestinian banking system — officials
Finance minister has until end of next month to sign waiver allowing Israeli banks to cooperate with Palestinian ones, without which PA economy would struggle to survive
By Jacob Magid and ToI Staff
Finance Minister Bezalel Smotrich leads a Religious Zionism faction meeting at the Knesset, in Jerusalem, June 24, 2024. (Chaim Goldberg/Flash90)
August 5, 2024, 2:41 am
Smotrich freezes NIS 100 million in PA funds over ‘incitement to terror’
Finance minister says freezing funds is part of Israel’s battles against terrorism, will divert cash to families of terror victims instead
By ToI Staff and Reuters
Prime Minister Benjamin Netanyahu attends a debate at the Knesset in Jerusalem, June 24, 2024 (Chaim Goldberg/Flash90)
June 25, 2024, 1:27 pm
Daily Briefing June 25: Day 263 – Opposition raps PM, says he thinks himself a ‘king’
Political correspondent Sam Sokol discusses submarine affair, heated Knesset debate; Arab affairs reporter Gianluca Pacchiani talks about Palestinian labor and Beirut airport
By ToI Staff
Crowds of people shop in an open-air market in the southern Gaza Strip city of Khan Younis on November 28, 2023. (Mohammed Abed/ AFP)
December 12, 2023, 11:50 pm
World Bank warns war causing ‘unparalleled’ damage to Palestinian economy
Global body notes destruction of most of Gaza’s infrastructure, predicts 3.7% contraction this year compared to pre-war prediction of 3.2% growth
By Agencies and ToI Staff
Palestinians walk by destroyed buildings in al-Zahra, on the outskirts of Gaza City, October 20, 2023. (AP/Ali Mahmoud)
November 10, 2023, 10:49 am
UN says Palestinian economy shrank ‘unprecedented’ 4% in month of war
Syrian economy used to lose 1% of its GDP per month at height of conflict, and it took Ukraine a year and a half to lose 30% of its GDP, report says
By Agencies
A Palestinian man counts stacks of banknotes at a currency exchange counter in the West Bank city of Ramallah on October 5, 2021. (Abbas Momani/AFP)
May 2, 2023, 9:21 pm
World Bank warns outlook ‘bleak’ for Palestinian economy
Global lender says Israeli restrictions ‘among the most important obstacles to growth and private sector development’ in West Bank and Gaza
By AFP and ToI Staff
File - people arrive on the Jordanian side of the Allenby Bridge crossing between the West Bank and Jordan on July 19, 2022. (Khalil Mazraawi/AFP)
February 15, 2023, 9:38 pm
Israel says it approved economic gestures for Palestinians following talks with US
Senior diplomatic official says government to attend to fees at Allenby crossing, lower fuel tax, ease imports after dialogue with Biden officials ahead of sensitive Ramadan month
By Jacob Magid and Michael Bachner
A Palestinian boy walks while backdropped by his home village of Susiya in Area C of the West Bank on July 24, 2015. (AP/Nasser Nasser)
November 22, 2022, 10:50 pm
UN: Israeli controls in Area C costing West Bank Palestinians $2.5 billion per year
Report says limits on Palestinian development in parts of the territory fully controlled by Israel go further than in rest of West Bank, keeping PA economy from potential windfalls
By AFP
A Gaza clothes merchant holds up jeans during a sit-in to protest a new tax of 10 shekels ($2.9) on each pair of imported jeans, in front of the Clothes Traders Syndicate in Gaza City, July 21, 2022. (AP Photo/Adel Hana)
July 28, 2022, 10:44 am
Cash-strapped Hamas raises taxes in impoverished Gaza, sparking rare protests
Decision to raise taxes on imported clothes and school supplies comes at a time already marked by financial hardship; clothes merchants stage protest in Gaza City
By Agencies
A Palestinian vendor displays a variety of pickles, widely desired as a side dish while breaking fast in Ramadan, in front of his cafeteria in the West Bank city of Ramallah, April 2, 2022. (Nasser Nasser/AP)
May 10, 2022, 10:55 am
World Bank: Despite growth, ‘precarious’ Palestinian economy needs more aid
Report ahead of donor conference in Brussels – to be attended by Israeli minister – finds West Bank economy grew 7.8% in 2021, but was hit by record-low foreign donations
By AFP
(From R-L) Prime Minister Naftali Bennett, Egyptian President Abdel-Fattah el-Sissi, and UAE Crown Prince Mohammed bin Zayed. (Collage/AP)
March 22, 2022, 1:00 pm
Daily Briefing March 22: Bennett goes to Sinai; Iran deal close to complete
Political reporter Tal Schneider discusses Bennett’s trilateral summit as US correspondent Jacob Magid looks at Iran deal, AIPAC endorsements and US envoy Nides on Palestinian 4G
By ToI Staff
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