RAMALLAH, March 27, 2012 (WAFA) – Palestinian government spokesman Ghassan Khatib Tuesday announced that the budget for the year 2012 is $3.18 billion.
The Cabinet discussed the draft budget with the parliamentary blocs to get their approval before it is submitted to President Mahmoud Abbas for ratification, which has to be completed before the end of this month, added Khatib.
The current account deficit in the 2012 budget amounts to around $1 billion, about 10% of the gross domestic product, compared to $1.3 billion (13% of GDP) in 2011, he said.
The deficit amounted to 22% of GDP in 2008, explained Khatib.
R.Q./M.S.
