Deficit in current account amounts to about 13% of Palestinian GDP
The Palestinian Central Bureau of Statistics (PCBS) and the Palestinian Monetary Authority (PMA) said Saturday that the deficit in the current account amounted to US$ 459.0 million (13.2% of the GDP). It is mainly because of the deficit in trade balance of goods which amounted to 1,144.3 million US$, (32.8%. of the GDP).
In a press release, the PCBS indicated that the "The surplus in the income balance in 2002 goes down by 31.3% compared with the year 2001. This surplus amounted to US$ 224.3 million, this deficit caused mainly by the decrease in the value of compensations of employees in Israel which amounted to US$ 106.1 million, the compensations goes down by 40.8% compared with the year 2001."
According to Balance of Current Transfers, the value of surplus amounted to US$ 1,065.4 million in 2002. The donor countries' current transfers account for 38.9% of total receipts from abroad. (albawaba.com)
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