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Sunday, July 03, 2011

Sunday the 'Palestinian Authority' went broke

It seems that the 'Palestinian Authority' is having a few financial problems for a change.
Facing financial difficulties, the Palestinian Authority will pay only half salaries to its civil servants for June, PA Prime Minister Salam Fayyad announced on Sunday.

The half salaries will be deposited in the employees’ bank accounts on Wednesday.

Fayyad attributed the crisis to failure of donor countries to meet their financial obligations to the Palestinians.

He noted that his government has nevertheless succeeded in reducing its reliance on international aid to less than one billion dollars a year.

In the past, he said, the PA government used to get nearly two billion dollars a year from the international community.

Fayyad said that the PA was now conducting consultations with Palestinian banks to persuade them not to collect full loan payments from civil servants.

He said that the PA government preferred to pay half salaries than postpone the payments entirely.

“We’ve reached a point where we can no longer delay the salaries or take loans from the banks,” Fayyad told reporters. “That’s why we decided to pay half salaries with the hope that the employees would display understanding.”

Fayyad added that the main reason behind the financial crisis in the PA was failure of the international community to provide funds. He said that last year the PA’s deficit reached $100 million. Since the beginning of this year, the deficit has reached $30 million each month, he revealed.
And someone thinks they're ready to be a state?

The 'Palestinian Authority' financial crisis is not because they don't get enough international aid. It's because they continue to pay thousands of 'employees' in Gaza to stay home and do nothing, and because instead of developing an economy for the last 18 years, they've developed terrorists and armed them. At what point will the world say enough is enough? (Unfortunately, probably only once the State of Israel no longer exists, God forbid).

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At 10:17 PM, Blogger NormanF said...

I pointed that out already. What I'd like to say here is the world isn't doing the Palestinians any favors by treating them like spoiled children. They can't even build a functioning society. So they want to take over Israel because the Jews have already done all the hard work for them. That won't happen and they won't have a state. But don't look for their so-called leaders to level with their own people and tell them the truth.

And there won't be peace in our lifetime.


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