Thursday, 15 September 2011

Palestinians Learn to Crawl

A Slow Crawl: Palestinian 2011 GDP Growth to Slow
Palestinian economic growth is likely to slow sharply this year due to unrest in the Middle East and uncertainty around a statehood bid, but remain positive at around 3.5 percent, the Palestine Monetary Authority governor said on Wednesday.
“Our expectation for 2011 has been marked down…It started with the impact of the Arab Spring and the uncertainty associated with the economic upheavals in the region,” Jihad al-Wazir told Reuters ahead of a meeting of Arab central bank governors in Qatar’s capital.
“Our expectation is that our GDP growth this year will probably be between 3.4 to 3.6 percent,” he said. “It was around 9 percent last year, so quite a drop compared to last year.”

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