The Financial Crisis and the UN-Bid: Forcing New Political Realities

Beyond Compromise - الثَّوابِت

“A new increase in prices” is the phrase most heard in Palestine this year. Already burdened with an Israeli occupation, the Palestinian Authority adds further economic strain with continued price and tax rises. The latest is the one percent increase in the value-added tax (VAT) that was announced this month. As of September 1, the VAT in the West Bank will be 15.5 percent. The worsening economic crisis is not only being faced by ordinary Palestinians; the PA in the West Bank is also struggling financially, desperately seeking international help to stay afloat.

All fingers for the current economic woes point to Prime Minister Salam Fayyad. PA President Mahmoud Abbas appointed Fayyad as the head of the emergency government in the West Bank on 17 June 2007. He remains until this day an interim Prime Minister, becoming the longest serving emergency PM. Fayyad also served as the Finance Minister from…

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