Palestinian 2021 Budget Sees Spending Up 9.9% on Year

Bookmark

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.

©2021 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.