Sustaining Achievements in Palestinian Institution-Building and Economic Growth

Sustainable economic growth and strong institutions are interlinked, and the present report summarizes recent economic and fiscal developments in West Bank and Gaza (WB&G) as well as providing a broad overview of institutional accomplishments to date. The present report begins by discussing the apparent slowdown in economic growth in WB&G and the current fiscal crisis facing the Palestinian Authority (PA)-resulting partly from lower-than-expected external support this year. A further drop in donor funding would likely reduce growth, which would in turn further aggravate the fiscal situation in the coming year. A protracted fiscal crisis, in turn, risks jeopardizing the gains made in institution-building and thereby losing what has been painstakingly achieved over the past years. In addition, the report highlights that in order for the PA to sustain the reform momentum and its achievements in institution-building, remaining Israeli restrictions must be lifted and any reductions in international aid flows must be carefully calibrated and managed. Economic growth in WB&G has slowed down in 2011, and together with the shortfall in external financing, this has led to a fiscal crisis for the PA. Economic growth in WB&G remains robust but appears to be slowing due to economic and political uncertainty, so that the International Monetary Fund (IMF) has revised the projected real Gross Domestic Product (GDP) growth rate for 2011 from 9 down to 7 percent. Despite some improvement, unemployment remains stubbornly high and labor force participation low in WB&G.

Bibliographic Details

Main Author:	World Bank
Format:	Report biblioteca
Language:	English en_US
Published:	Washington, DC 2011-09-18
Subjects:	ACCOUNTABILITY, ACCOUNTING, ACCOUNTING SYSTEM, ACCUMULATION OF ARREARS, AGGREGATE SPENDING, ALLOCATION, ALTERNATIVE FINANCING, AMALGAMATION, ANNUAL BUDGETING, ANNUAL REPORT, AUTONOMY, BANK ACCOUNTS, BANK FINANCING, BANKING SECTOR, BANKS, BASIC SERVICES, BENEFICIARIES, BORROWING, BUDGET DEFICIT, BUDGET EXECUTION, BUDGET PREPARATION, BUDGET PROJECTIONS, BUDGET REPORTING, BUDGET SUPPORT, BUDGETARY REVENUES, BUSINESS CONFIDENCE, CABINET OF MINISTERS, CAPACITY BUILDING, CAPACITY-BUILDING, CAPITAL BASE, CAPITAL EXPENDITURES, CAPITAL INVESTMENT, CAPITAL REQUIREMENT, CAPITAL REQUIREMENTS, CAPITAL SPENDING, CASH BASIS, CENTRAL BANK, CENTRAL CONTROL, CENTRAL GOVERNMENT, CHILD SUPPORT, CIVIL SERVANTS, CIVIL SERVICE, CIVIL SERVICE LAW, CIVIL SOCIETY ORGANIZATIONS, CONFLICTS OF INTEREST, CORRUPTION, COST OF LIVING, CREDIT FACILITIES, DEBT, DEFICITS, DEPOSITS, DIRECT FINANCIAL SUPPORT, DOMESTIC REVENUE, DONOR ASSISTANCE, DONOR COORDINATION, DONOR FINANCING, DONOR FUNDING, ECONOMIC ACTIVITY, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, EDUCATION SERVICES, EDUCATION SYSTEM, EFFECTIVE GOVERNANCE, ELECTRICITY SERVICES, EMPLOYMENT, EQUAL ACCESS, EXCHANGE RATE, EXPENDITURE CONTROL, EXPENDITURE MANAGEMENT, EXTERNAL ASSISTANCE, EXTERNAL AUDIT, EXTERNAL FINANCING, FINANCE MINISTRY, FINANCIAL ACCOUNTABILITY, FINANCIAL ACCOUNTS, FINANCIAL DATA, FINANCIAL INSTITUTIONS, FINANCIAL MANAGEMENT, FINANCIAL MANAGEMENT SYSTEM, FINANCIAL REFORMS, FINANCIAL SECTOR, FINANCIAL STATISTICS, FINANCIAL SUPPORT, FINANCING ARRANGEMENTS, FINANCING NEED, FISCAL CRISIS, FISCAL DEFICITS, FISCAL FRAMEWORK, FISCAL IMPLICATIONS, FISCAL POSITION, FISCAL STABILITY, FISCAL STANCE, FISCAL TRANSPARENCY, FOREIGN ASSETS, FOREIGN BANKS, FOREIGN INVESTMENT, FUNDS FOR CAPITAL EXPENDITURES, GENERAL BUDGET SUPPORT, GROSS DOMESTIC PRODUCT, GROWTH RATE, HEALTH CARE, HEALTH INSURANCE, HEALTH SECTOR, HEALTH SERVICES, HEALTH SYSTEMS, HEALTH WORKERS, HUMAN RESOURCE MANAGEMENT, HUMAN RIGHTS, INCOME TAX, INFORMATION TECHNOLOGY, INFRASTRUCTURE SECTOR, INSTITUTIONAL CAPACITY, INSTITUTIONAL DEVELOPMENT, INSURANCE, INTERNAL AUDIT, JOB CREATION, LABOR FORCE PARTICIPATION, LABOR FORCE SURVEY, LACK OF ACCESS, LACK OF INFORMATION, LAND ADMINISTRATION, LAWS, LEGAL FRAMEWORK, LIQUIDITY, LOCAL GOVERNMENT, LOCAL GOVERNMENT REVENUES, MANDATES, MEDIUM TERM FISCAL STRATEGY, MENTAL HEALTH, MINISTRY OF FINANCE, MONETARY POLICY, MUNICIPAL DEVELOPMENT, MUNICIPALITIES, NATIONAL DEVELOPMENT, NATIONAL DEVELOPMENT PLAN, NATURAL RESOURCES, NET LENDING, OPERATIONAL EXPENDITURES, ORGANIZATIONAL STRUCTURE, PAYMENT OBLIGATIONS, PENSION LIABILITIES, PENSION REFORM, PENSION SCHEME, PENSIONS, PERFORMANCE MANAGEMENT, PRIVATE INVESTMENT, PRIVATE SECTOR, PRIVATE SECTOR GROWTH, PRIVATE SECTOR INVESTMENT, PROGRAM IMPLEMENTATION, PROGRAMS, PROPERTY TAX, PROPERTY TAXES, PUBLIC ACCOUNTS, PUBLIC ADMINISTRATION, PUBLIC EDUCATION, PUBLIC EMPLOYMENT, PUBLIC EXPENDITURE, PUBLIC EXPENDITURES, PUBLIC FINANCES, PUBLIC FINANCIAL MANAGEMENT, PUBLIC INSTITUTIONS, PUBLIC INVESTMENT, PUBLIC SECTOR, PUBLIC SECTOR ACCOUNTING, PUBLIC SERVICE, PUBLIC SERVICE EMPLOYMENT, PUBLIC SPENDING, QUALITY ASSURANCE, QUALITY OF SERVICES, REAL GROWTH, RECEIPTS, REFORM AGENDA, REFORM EFFORTS, REFORM PROGRAM, REFORM STRATEGIES, REGULATORY FRAMEWORK, RESERVE REQUIREMENTS, RETIREMENT, REVENUE MOBILIZATION, RISK MANAGEMENT, SALARY PAYMENTS, SANITATION, SAVINGS, SECTOR POLICY, SERVICE DELIVERY, SOCIAL INSURANCE, SOCIAL POLICY, SOCIAL PROTECTION, SOCIAL PROTECTION SECTOR, STATE OWNED BANKS, STRATEGIC PRIORITIES, STRUCTURAL REFORMS, TAX ADMINISTRATION, TAX BASE, TAX BREAKS, TAX COLLECTION, TAX COLLECTIONS, TAX REVENUES, TAXPAYERS, TELECOMMUNICATIONS EQUIPMENT, TOTAL EXPENDITURES, TRANSFER PAYMENTS, TRANSPARENCY, UNCERTAINTY, UNEMPLOYMENT, WAGE EXPENDITURES, WAGES, WATER SUPPLY,
Online Access:	http://documents.worldbank.org/curated/en/135181468321869156/Sustaining-achievements-in-Palestinian-institution-building-and-economic-growth-economic-monitoring-report-to-the-Ad-Hoc-Liaison-Committee https://hdl.handle.net/10986/27154
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