Palestinian Economy in Judea and Samaria Strengthens

Photo: IDF (Zahal) Spokesperson

The Palestinian economy in Judea and Samaria has shown signs of strengthening since the beginning of the year, according to a recent analysis by the Civil Administration.

Date: 08/09/2008, 10:36 AM    

The Palestinian economy in Judea and Samaria has shown signs of strengthening since the beginning of the year, according to a recent analysis by the Civil Administration. The analysis was based on data gathered by the Civil Administration as well as publicly available figures.

There have been large increases in the passage of commercial goods as a direct result of the increase in employment licenses and trade permits issued to Palestinian merchants and business owners by the Civil Administration since the beginning of 2008.

There has also been a significant rise in the number of Palestinians using public transportation in the region, as well as a large expansion of the tourism industries in central cities such as Bethlehem and Jericho. Fresh agricultural crops exported to Israel have grown by 25% (despite significant damage caused by the frost that hit the region during the last winter). The “Al Kuds” Palestinian capital markets index has risen, as opposed to the trend on global stock markets, and the successful Bethlehem Investor Conference in May is predicted to lead to an increase in foreign investment.

All these indicators reflect on the significant improvement in the Palestinian economy in Judea and Samaria in the first half of 2008.

In addition, another trend in the improving economy is the increased involvement of international actors in local social and relief projects. The involvement of foreign governments, amongst others, has brought an investment of tens of millions of dollars to different projects in the region