(MENAFN) Algeria has granted the Palestinian Authority USD26 million aid to help alleviate its deepening financial crisis, Palestinian news agency WAFA reported.
According to deputy Arab League secretary-general Ahmed Ben Helli, Algeria deposited the amount with the Palestinians on January 1.
Arab League Secretary-General Nabil Elaraby has called on Arab governments to speed up USD100 million of monthly payments program to the Palestinians that was agreed on at an earlier summit in Baghdad, Helli said.
The USD100 million in assistance represents the equivalent amount of Palestinian tax revenues that should come through Israel, which the Jewish state has withheld after the authority successfully applied to become a non-member state of the United Nations.
Palestinian Finance Minister Nabil Kassis said previously that the PA was unable to pay the salaries of thousands of its civil servants because donor countries did not to honour their pledges.
The minister expected the economy in the West Bank and Gaza Strip to contract between 5 and 8 percent in 2012, from about 10 percent in 2011.
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