Saudi Arabia Provides $60M in Direct Support to PA’s Budget

RAMALLAH, January 13, 2015 (WAFA) – Saudi Arabia has provided $60 million in direct support for the Palestinian Authority’s budget, said Saudi Arabia Ambassador to Egypt Ahmad Abdulaziz Qattan.

Anadolu News Agency reported on Abdulaziz Qattan saying that the Saudi Fund for Development has transferred $60 million to the Palestinian Finance Ministry’s bank account.

The Saudi diplomat noted in a press release the $60 million covers Saudi Arabia’s financial contribution to PA’s budget for October, November and December 2014.

He added that his country would continue to support the Palestinian cause on all levels, noting Saudi Arabia’s keenness to increase its financial contribution to PA’s budget from $14 million to $20 million in January 2013.

The total Palestinian budget for 2014 was estimated at $4.21 billion with a $1.25 billion deficit; when the $350 million deficit in development budget is added, the total budgetary deficit reaches $1.6 billion.

The Palestinian government received approximately $243 million in financial aid over the first four months of 2014 compared to $1.49 billion over the same period in 2013.