Palestinian Authority Official Warns of Worsening Financial Crisis

(Ma'an News Agency) - The Palestinian Authority deputy prime minister for economic affairs said Tuesday that the financial crisis is getting worse. "There is a major financial crisis and the PA is $4.2 billion in internal and external debt," Muhammad Mustafa said during a news conference. The PA official also warned of a growing job crisis, with over 250,000 Palestinians currently unemployed, young people particularly affected. The PA owes $600 million to banks and $1 billion to international financial institutions, Mustafa said.

2013-06-12 00:00:00

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