Salamah: The Consequences of the Recent War Were Heavier on the Palestinian Economy

SadaNews Economy - Minister of Finance and Planning Dr. Istifan Salamah affirmed that the consequences of the recent war were more severe on the Palestinian economy compared to the economies of the region, amidst the coinciding inflationary pressures and ongoing Israeli measures, particularly the occupation's holding of approximately $5.1 billion in tax revenues, restricting trade and individual movement, and controlling resources.

He clarified that the government, despite the scarcity of resources, continues to provide essential services and regularly disburses a portion of employee salaries. This was stated during his participation, representing the State of Palestine, in the meetings of finance ministers and central bank governors within the annual spring meetings of the International Monetary Fund and the World Bank Group, held in Washington from April 13 to 18, with the participation of 25 countries from the region.

Salamah emphasized in his speech that the current international movements are insufficient to stop the Israeli measures that undermine government reform efforts, while also affirming the continued provision of health, educational, and security services, and the ongoing functioning of the private sector and the banking system despite the pressures. The meetings discussed the implications of geopolitical tensions on both regional and global economies, including trade, energy, and supply chains, alongside challenges related to growth, inflation, and food security.

Salamah proposed a set of suggestions, notably compelling Israel to adhere to the signed agreements, ensuring freedom of movement, trade, and cash flows, as well as the return of withheld tax revenues and halting deductions, which would contribute to restoring economic stability and opening political horizons.