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The original was posted on /r/worldnews by /u/WarzoneWraithX on 2024-05-26 13:38:16+00:00.
Palestinian Authority on verge of fiscal collapse as Smotrich withholds funds
Submitted 2 years ago by bot@lemmit.online [bot] to worldnews@lemmit.online
https://www.jpost.com/israel-news/article-803699
autotldr@lemmings.world [bot] 2 years ago
This is the best summary I could come up with:
A number of bills advanced in the Knesset on Sunday that would put financial pressure on the Palestinian Authority, as it nears a possible economic shutdown.
A private members’ bill by Religious Zionist Party MK Zvi Sukkot that would freeze funding transferred from Israel to the PA was approved in the Knesset Ministerial Committee for Legislation on Sunday.
Foreign assistance and public worker and supplier arrears are the only financing options available to the authority right now, the World Bank said.
A failure to renew the waiver that enables Israeli banks to do business with the PA, set to expire July 1, would worsen the economy, essentially causing a shutdown, the Financial Times reported.
“The point that we’re making… is that you shouldn’t be threatening people’s access to food, electricity, and water at a moment like this, especially in the West Bank,” he said.
Israel’s withholding of revenues that it collects on behalf of the Palestinian Authority also threatens economic stability in the West Bank.”
The original article contains 718 words, the summary contains 165 words. Saved 77%. I’m a bot and I’m open source!