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World Bank: Israel limits harm PA economy - Israel Business, Ynetnews
The World Bank charges that Israel's system of checkpoints, delays in transferring millions of dollars in tax revenue and preventing most exports from Gaza have caused lasting damage to the Palestinian economy.
The policies are causing a contraction in manufacturing and agricultural sectors, "alarmingly" high unemployment and social problems that would outlive any Israeli-Palestinian peace agreement, the organization said in its report.
Tuesday's report said deteriorating water and transport infrastructure were also serious problems, particularly in Gaza.
Israel officials cite security concerns for restrictions.
The report said economic problems were exacerbated by shortfalls in donor aid, forcing the Palestinian Authority to borrow unsustainable amounts from local banks to stay afloat.
The World Bank charges that Israel's system of checkpoints, delays in transferring millions of dollars in tax revenue and preventing most exports from Gaza have caused lasting damage to the Palestinian economy.
The policies are causing a contraction in manufacturing and agricultural sectors, "alarmingly" high unemployment and social problems that would outlive any Israeli-Palestinian peace agreement, the organization said in its report.
Tuesday's report said deteriorating water and transport infrastructure were also serious problems, particularly in Gaza.
Israel officials cite security concerns for restrictions.
The report said economic problems were exacerbated by shortfalls in donor aid, forcing the Palestinian Authority to borrow unsustainable amounts from local banks to stay afloat.