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Kerry Unveils $4 Billion Palestinian Economic Plan

(State Department) On Sunday at the World Economic Forum in Jordan, U.S. Secretary of State John Kerry unveiled a $4 billion economic plan to revitalize the Palestinian economy. He said: "Quartet Representative Tony Blair...is shaping what I believe could be a groundbreaking plan to develop a healthy, sustainable, private-sector-led Palestinian economy that will transform the fortunes of a future Palestinian state, but also, significantly, transform the possibilities for Jordan and for Israel. It is a plan for the Palestinian economy that is bigger, bolder and more ambitious than anything proposed since Oslo....We are looking to mobilize some $4 billion of investment." "Experts believe that we can increase the Palestinian GDP by as much as 50% over three years. Their most optimistic estimates foresee enough new jobs to cut unemployment by nearly two-thirds - to 8%, down from 21% today - and to increase the median annual wage along with it, by as much as 40%....I am happy to say that both Prime Minister Netanyahu and President Abbas support this initiative." "The economics will never work properly or fully without the political process....President Abbas, the economic approach is not a substitute for the political approach. The political approach is essential and it is our top priority. In fact, none of this vision...will happen without the context of the two-state solution."
2013-05-27 00:00:00
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