Kingdom of Saudi Arabia Pays Its Share to Palestinian Authority's Budget for Eight Months

Saudi Permanent Representative to the Arab League and Dean of the Arab Diplomatic Corps, Ahmed bin Abdulaziz Qattan.

Cairo, 16 Rabiul Awwal 1438/16 December 2016 (MINA) – Saudi Development Fund has deposited US61,6 million to the Palestinian Ministry of Finance’s account, SPA reported.

Saudi Ambassador to Egypt, Kingdom’s Permanent Representative to the Arab League and Dean of the Arab Diplomatic Corps, Ahmed bin Abdulaziz Qattan explained that the amount represents the value of the Kingdom’s monthly contributions to support the Palestinian Authority’s budget, for eight months, namely; “from April till November of 2016,” US 7,7 million per month.

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In a statement, he pointed out that the Kingdom will always support the Palestinian cause at all levels.

Due to protracted periods of economic and political instability over the last decade, the PA continues to rely on external donor assistance to fund a large share of its annual budget.

The PA also relies on the transfer of clearance revenues by the Israeli Government for a significant portion of its internal domestic revenues.

These constitute the two major sources of funding, aside from borrowing, for the annual expenditures of the Palestinian Authority. (T/R07/R01)

Mi’raj Islamic News Agency (MINA)