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2020-04-12

The Prime Minister discusses the stimulation of the economy and the recovery of the affected sectors with the Monetary Authority.

Ramallah – Palestine Economy Portal.

 

Palestinian PM Mohammad Shtayyeh discussed with the new Board of Directors of the Monetary Authority headed by Governor Azzam Shawa, on Sunday, banking measures during the emergency period, and the start of planning for the post-Corona phase in terms of reviving and stimulating the economy.

Al-Shawwa pointed out that the monetary authority's plan seeks to balance strict health measures to cope with the outbreak, with the interests of citizens in light of the disruption of many economic sectors, while maintaining the banking safety as an economic pillar in Palestine.

In turn, the Prime Minister said: "I salute the spirit of cooperation shown by the Monetary Authority and its effective role in controlling the banking issue during the emergency situation, and the integration of the banking sector with the rest of the sectors to manage the crisis that we transformed from sectoral to the Ministry of Health into a national issue in which everyone joins together for the safety of our people and our homeland. "

Shtayyeh discussed with the Council ideas to stimulate the economy, after the end of the epidemic threat, to revive the various sectors affected by the emergency, such as the formation of a soft loan fund to treat the negative economic impacts on these sectors, especially the tourism and services sectors.

He also briefed them on the financial situation of the government in light of the decrease in revenues of more than 50%, and an annual deficit of more than 1.4 billion dollars, explaining the government's financial plans until the end of the year, which mainly depend on reducing expenses to the maximum extent and searching for ways to bridge the deficit.

On the other hand, the Prime Minister called on the Monetary Authority to start working to settle bank investments in Palestine instead of investing a large part of them abroad, which will have a positive impact on the entire wheel of the economy.

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