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Palestinian economy

Ilustrative: Offices of Discount and Hapoalim banks in the center of Tel Aviv (Miriam Alster/ FLASH90)
August 21, 2026, 1:11 am
Progress made in talks with Israeli banks to delay move that could collapse PA economy
Sources tell ToI that Discount and Hapoalim are likely to hold off on threat to stop providing critical correspondent services to Palestinian banks, following Western intervention
By Jacob Magid
The Supreme Court is seen July 27, 2026, in Washington. (AP/Mariam Zuhaib)
July 30, 2026, 10:58 pm
Palestinians ask US Supreme Court to halt $656m payment pending restitution case appeal
PLO, PA argue that paying hefty sum now in long-running lawsuit filed by Americans who blame them for attacks that killed their loved ones in Israel would destabilize West Bank
By AP
Palestinian motorists queue at a gas station while the city is experiencing a severe fuel shortage following the Israel Iran conflict, in Ramallah June 19, 2025. (AP Photo/Nasser Nasser)
July 30, 2026, 10:51 pm
West Bank fuel shortage strands Palestinians at pump with economy running on empty
Cash liquidity crunch and fiscal strains, some stemming from PA’s reliance on Israeli shekel, seen as driving petrol scarcity, leading to long gas lines and illicit ‘black gold’ sales
By Nurit Yohanan
Finance Minister Bezalel Smotrich gestures toward a map of the West Bank during a press conference at the Finance Ministry in Jerusalem, September 3, 2025. (Yonatan Sindel/Flash90)
July 23, 2026, 3:25 am
Israel acts to ease Palestinian banking crisis it helped create, but is it moving too late?
Smotrich signs waiver allowing transactions with Palestinian banks until end of 2026, though Israeli financial institutions are wary about continuing to provide services crucial to keeping West Bank economy afloat
By Jacob Magid
A currency exchange employee counts Israeli Shekels at a bureau in the West Bank city of Bethlehem, July 7, 2026. (AP Photo/Mahmoud Illean)
July 20, 2026, 8:43 pm
‘Economic warfare?’ In the West Bank, too much cash is breaking the Palestinian economy
Palestinian officials say banks can’t convert cash into electronic balances, leaving them unable to process transfers due to limits on physical currency Israel takes from the PA
By AP
Palestinians shop at a market ahead of the Eid al-Adha festival, in the West Bank city of Hebron, on May 26, 2026. (Wisam Hashlamoun/Flash90)
June 15, 2026, 12:54 pm
Report warns Israeli restrictions pushing Palestinian economy in West Bank to collapse
Deprived of tax revenues and work permits, ‘economic conditions necessary for any Palestinian future other than permanent subjugation’ being lost, warns International Crisis Group
By Agencies and ToI Staff
In this drone photo, Palestinians walk in an intersection surrounded by buildings destroyed during two years of Israeli army bombardments in Gaza City, Wednesday, Oct. 15, 2025. (AP)
May 6, 2026, 4:53 pm
Gaza rebuild priced at $71 billion, with most homes and nearly all businesses destroyed
First comprehensive report since ceasefire, compiled by World Bank, UN and EU, finds war caused over $35 billion of direct damage and over $22 billion more of economic losses
By Nurit Yohanan
Palestinian markets are crowded with people as life returns to normal in Khan Younis, in the southern Gaza Strip, in an undated photo from October 2025 following the start of a ceasefire between Israel and Hamas. (Abed Rahim Khatib/Flash90)
November 14, 2025, 11:14 am
Hamas reinstates fees on imported goods, raises taxes as it reasserts control in Gaza
Gazan merchants say terror group is trying to regulate high market prices, but analysts see move as sign that Hamas is preparing to dig in its feet and refuse to cede power
By Reuters
Palestinian Authority President Mahmoud Abbas at the opening session of the Palestinian Central Council, in the West Bank city of Ramallah, on April 23, 2025. (Flash90)
September 11, 2025, 8:05 am
School delayed and wages unpaid, Palestinian Authority faces deep economic crisis
After years of financial clashes with Israel, the PA is undergoing its most severe financial crisis, with Israeli officials warning of security threats if the distress persists
By Nurit Yohanan
A Palestinian man climbs the security barrier at the West Bank town of al-Ram to cross into Israel illegally, on September 15, 2024. (AP Photo/ Mahmoud Illean/ File)
July 19, 2025, 11:21 am
Barred from working in Israel, West Bank Palestinians pay a price for Gaza’s war
With permits down to 11% of pre-October 7 levels, laborers once dependent on Israel for decent wages are drowning, even as robust trade ties keep the intertwined economies afloat
By Nurit Yohanan
A Palestinian vegetable merchant shows worn-out Israeli currency, July 9, 2025, in Gaza City. (AP/Jehad Alshrafi)
July 11, 2025, 1:14 pm
Ongoing war sees Gaza residents paying middlemen 40% cut to get their own cash
Territory’s economy has become entirely dependent on cash, giving immense power to cash brokers; new practice of money repair has emerged, but even then, some notes are rejected
By AP and ToI Staff
(From L-R) Finance Minister Bezalel Smotrich, Yesha Council chairman Yisrael Ganz, Transportation Minister Miri Regev and Likud MK Avichai Boaron at a ceremony marking the establishment of a new settlement in the southern West Bank called Mitzpe Ziv on June 10, 2025. (Courtesy)
June 11, 2025, 2:03 am
Smotrich moves to paralyze Palestinian economy in response to Western sanctions
Finance minister orders cancellation of waiver allowing Israel-PA bank ties, though Palestinian Authority not known to have been involved in UK-led decision to blacklist him and Ben Gvir
By Jacob Magid
PLO Executive Committee member Ahmad Majdalani in his Ramallah office in 2024. (Courtesy)
March 4, 2025, 4:07 pm
Seeking funds abroad, Abbas ally touts prisoner payment reform that’s ‘unpopular’ at home
Tapped to head welfare fund replacing ‘pay-to-slay,’ Ahmad Majdalani says it’ll be strictly need-based, and should suffice for US and Israel to scrap ‘unjust’ sanctions on Ramallah
By Jacob Magid
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
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