Palestinian 2021 Budget Sees Spending Up 9.9% on Year
(Bloomberg) -- The Palestinian Authority’s 2021 budget foresees spending increasing 9.9% over the previous year to $5.6 billion, with a deficit equal to 6.4% of gross domestic product, according to the plan the cabinet approved on Monday.
The gap will shrink from 7.5% of GDP in 2020. Revenue is forecast at $3.9 billion.
The authority didn’t approve a budget last year because of the pandemic, instead relying on an emergency spending plan.
Outlays on development projects will surge 146% to $657 million from a year earlier.
The budget must now go to President Mahmoud Abbas for approval.
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