Palestine Economy Portal

Prime Minister Muhammad Shtayyeh said that since the beginning of the financial crisis, the government began with an austerity program that has reduced expenditures by 70 percent.

Shtayyeh said, at the beginning of the virtual cabinet session, that the government borrows from banks about 400 million shekels per month to secure half of the salary for employees.

He added that the government pays 350,000 salaries per month between civilians, soldiers, needy families, and the salaries of retired persons, in addition to the families of martyrs and prisoners of war in the homeland and diaspora.

Shtayyeh explained that the government needs 1.2 billion shekels per month to cover its obligations, pointing to the halting of clearance funds and the decline in local revenues from 350 million shekels to 200 million.

Shtayyeh assured that all employees' salaries will be paid in full as soon as they are obtained without political blackmail from Israel and the United States of America.

He said that Israel and the United States seek to defeat us so that we surrender and accept their project, stressing that this will not happen.