Translated by Sabrin Qadah 

Palestinian Ministry of Finance data showed shrinking of financing gap for this year by half compared to the same period last year, amounting to about one billion and 269 million shekels until the month of November, up from 2 billion and 403 million shekels for the same period last year.

The report explained that the financing gap is divided equally between the general budget and development budget, in which the gap in the general budget reached 610 million shekels, and 659 million shekels in the development budget.

The total net revenue reached 11 billion and 935 million shekels until November, while total expenditures amounted to about 12,000,545 million shekels.

The Palestinian Authority relies on foreign aid and borrowing from domestic banks to bridge the financing gap.

The data showed that the overall external financing reached one billion and 411 million shekels until November, most of which went to balance development, while an amount of 366 million shekels was allocated to the development budget.

International aid to the Palestinian Authority, which is mostly allocated to meet the wage bill, gradually declined during the last 11-months of this year by about 420 million shekels from the same period last year, decreased by 50% than the year 2013.