IMF says Palestinian economy needs 'urgent action'
- Palestine: Saturday, March 16 - 2013 at 03:33
The International Monetary Fund (IMF) has called for "urgent action" to help revive the Palestinian economy, saying it had been choked by Israeli restrictions and political uncertainty, AFP has reported. The fund said the situation in the West Bank and the Gaza Strip had deteriorated in recent months, pointing to rising unemployment which had claimed nearly a quarter of the labour market in late 2012. "Israeli restrictions on movement and access are virtually unchanged and continue to hamper growth prospects," the IMF said, noting that gross domestic product had risen by only 6% last year compared to an average of around 11% in 2010 and 2011.
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