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Palestinian PM warns of cash crisis
Posted By -NO AUTHOR- On 01/07/2013 @ 12:59 pm In World | No Comments
RAMALLAH, West Bank (AP) — The Palestinian self-rule government is in “extreme jeopardy” because of an unprecedented financial crisis, largely because Arab countries have failed to send hundreds of millions of dollars in promised aid, the Palestinian prime minister said Sunday.
The cash crunch has gradually worsened in recent years, and the Palestinian Authority now has reached the point of not being able to pay the salaries of about 150,000 government employees, Salam Fayyad told The Associated Press.
The number of Palestinian poor is bound to quickly double to 50 percent of the population of roughly 4 million if the crisis continues, he said.
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