RAMALLAH, May 12, 2011 (WAFA) – Palestine Economic Policy Research Institute (MAS) Thursday said that Israel is causing more damage to the Palestinian economy by closing the Palestinian Territory and its border crossings.

In addition to withholding the PLO tax revenues, Israel imposes closures on the Palestinian Territory and its border crossings causing the delay of the flow of goods from abroad through the Israeli ports and the transfer of goods between the Palestinian cities which means extra loses to merchants, it said.

Samir Abdullah, MAS director general said that Israel by seizing every opportunity to hit the Palestinian economy inhibits its growth; the total revenues should amount 18 to 25 billion dollars; however it only reach 6000, 000$. 

Vice President of Development and Planning at Birzeit University, Nasr Abdul Karim, said that the Palestinian economy is largely harmed by the Israeli closures, under the pretexts of Jewish holidays, which caused the raise in the transport and storage costs in various Palestinian cities up to 35%.

Mohmmad Hirbawi, a Palestinian Businessman who owns several companies in the paper industry in Hebron said that the Israeli closures cause the delay of the flow of goods through the Israeli ports which means imposing extra taxes on them, therefore weakening his companies’ competitive edge with others.

He added that the impact of closures which coincide with the late payment of salaries will affect the work of Palestinian companies in the future, especially as employees form about half of the Palestinian people.

T.R./F.R.