Saudi Arabia Reduces Aid to the Palestinian Budget by 61%

Saudi Arabia has reduced its monthly help to the Palestinian budget by 61%.

  • طباعة الصفحة

 

Translated by Sabrin Qadah 

After 8 month stopping of Saudi Arabian contribution to the Palestinian budget, Saudi Arabia announced that it has converted 6.61 million US dollars to the Palestinian Ministry of Finance in a reality of 7.7 million for each month, representing a decrease in this assistance by 61.5%.

The Saudi Arabia has pledged $20 million dollars per month to the Palestinian budget in 2013 as a contribution to support the government's budget after the monthly contribution was estimated about $14 million. Saudi aid is an important part of the external support for the Palestinian budget, which generally suffers a downturn.

The data indicate that Saudi Arabia offered 460 million shekels (i.e. $ 121 million) during the first ten months of this year, transferred during the months of January and April.

Saudi Arabia has given 710 million shekels (ie $ 187 million) during the same period last year.

Observers attributed the decline in Saudi aid to the Palestinian Authority for economic reasons due to the financial crisis faced by Saudi Arabia as a result of falling oil prices, and suffering from high costs due to the region's conflicts.

The World Bank had recently issued a report, which revealed a decline in foreign aid to the Palestinian Authority by about 50% in the last three years, warning of an economic crisis.