RAMALLAH, September 26, 2017 (WAFA) – A joint report by the Palestinian Central Bureau of Statistics (PCBS) and the Palestine Monetary Authority (PMA) published Tuesday said that preliminary results of the International Investment Position (IIP) (external assets – foreign liabilities) for Palestine at the end of second quarter 2017 revealed that the net IIP amounted to about $1,102 million, which means that the Palestinian economy’s investments outside Palestine outweighs investments in Palestine from abroad.
The resident cash deposits in foreign banks and foreign exchange in the Palestinian economy accounted for the bulk of the external assets, constituting 63% of the total value of external assets, said the report.
The total stocks of External Assets for Palestine amounted to $6,204 million, the Foreign Direct Investment abroad contributed to 6.3%, Portfolio Investments abroad reached 19%, while Other Foreign Investments abroad (mainly currency and deposits) reached 67.3% and Reserve Assets amounted to 7.4%.
At sectoral level, the external investments of banks sector represented a large share of the external assets, standing at 75.2% of the total value of external assets.
The total stocks of Foreign Liabilities in Palestine (Stocks of non-residents invested in Palestine) amounted to $5,102 million, the Foreign Direct Investment in Palestine contributed to 50%, Portfolio Investments in Palestine reached 13.8% and Other Investments in Palestine (mainly loans and deposits from abroad) amounted to 36.2%.
According to sectoral level, the foreign investments in banks sector contributed a major value in the foreign liabilities, represented by 38.4% of the total value of foreign liabilities on Palestinian economy.
The Gross External Debt on different sectors of the Palestinian economy reached $1,854 million, the debt on government sector represented 55%, while debt on banks sector reached 40.9%, and debt on other sectors (nonbank financial corporations, non-financial corporations, NGOs and household sector) amounted to 3.8%, and the lending between affiliated companies reached 0.3%.
M.K.
