Saudi provides PA $60m

Saudi Arabia has transferred $60 million to the Palestinian Authority, Saudi Ambassador in Cairo Ahmed Qattan announced yesterday.”The Saudi Fund for Development has transferred the equivalent of $60 million to the account of Palestinian Finance Ministry,” Qattan was quoted as saying in a statement issued by the Saudi embassy yesterday.

The amount includes Riyadh’s $20 million monthly contribution to support the Palestinian National Authority’s budget for the first three months of the current year (January-March), Qattan explained.

The Palestinian cabinet approved the draft general budget for 2016, with a value of $4.25 billion and $386 million deficit, which would force it to take austerity measures.

The Palestinian government relies heavily on Arab and foreign donors to provide the necessary funds to cover its budget deficit.