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Possibilities of reducing the deficit in the balance of Palestinian external trade

2012-11-24


The accumulated deficit in the balance of payments was the subject of a dialogue to diagnose its features and its impact on the economic situation in general and the community in particular, and how they can be  addressed. The discussion dealt with a number of important issues that are relevant to the accuracy of the figures provided by the relevant ministries and the Palestinian Central Bureau of Statistics as a  result of: lack of a national currency, lack of control over crossings and access denial to East Jerusalem and Gaza. Where the figures represent data recorded through customs and VAT. The observed deficit is $ 3.3 billion. The reasons  for this deficit is attributed to the dependency of the Palestinian economy on the Israeli economy and its relationship to deficit in the trade balance and the failure to meet the local products to the Highest demand for population growth.


Solutions proposed focused on: Protection of local products by focusing on specific products and raising the productive capacity of the various productive sectors, activate trade agreements with Arab countries,   the formulation of rational economic policy and learn from international experiences through focusing on human element and creativity. All recommendations focused on the need to rationalize the import awareness, the consumer mentality, promote exports and focus on the export of services as a promising sector.
The Arab Thought Forum held this meeting at the Palestine Economic Policy Research Institute (MAS) in 10.24.2012 and was attended by academics, public officials and representatives from related parties especially MAS and the Palestinian Central Bureau of Statistics. The meeting was opened by Abdel Rahman Abu Arafeh  and Azzam Abu Saud moderate the discussion. Analysis paper will be  issued.


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