World Bank report on the Palestinian economic crisis.

0 Comments | M2 Presswire, March, 2002

M2 PRESSWIRE-27 March 2002-WORLD BANK GROUP: World Bank report on the Palestinian economic crisis (C)1994-2002 M2 COMMUNICATIONS LTD RDATE:25032002 The World Bank is releasing a report entitled "Fifteen Months - Intifada, Closures and Palestinian Economic Crisis" (the Assessment), which surveys the economic impact of the current crisis and proposes a strategy for managing the Palestinian economy in 2002.

Mainly as a result of the heavy restrictions on the movement of labor and goods in the West Bank and Gaza (the 'closures'), the Palestinian economy is in severe recession. Unemployment has tripled, to almost one -third of the workforce. Real incomes have fallen by almost 30 percent, and are now lower than they were in the late 1980s. The proportion...