RAMALLAH, Wednesday, June 19, 2019 (WAFA) - The primary results of the International Investment Position (IIP) (external assets – foreign liabilities) for Palestine at the end of the first quarter 2019  revealed that the net IIP amounted to $1,724 million, an increase by 4% compared with previous quarter, which means that the Palestinian economy’s investments outside Palestine outweighs investments in Palestine from abroad.

This came in a joint report published today by the Palestinian Central Bureau of Statistics (PCBS) and the Palestine Monetary Authority (PMA) on the preliminary results of the IIP and external debt statistics for Palestine as of end of the first quarter 2019.

The total stocks of external assets for Palestinian economy amounted to $6,841 million, the foreign direct investment abroad contributed to 5%, portfolio investments abroad reached 20%, while Other Foreign Investments Abroad (mainly currency and deposits) reached 66% and Reserve Assets amounted to 9%.  At sectoral level, the external investments of banks sector represented a large share of the external assets, standing at 67% of the total value of external assets for Palestinian economy.

The total stocks of Foreign Liabilities in Palestine (stocks of non-residents invested in Palestine) amounted to $5,117 million, the Foreign Direct Investment in Palestine contributed to 53%, Portfolio Investments in Palestine reached 15% and Other Investments in Palestine (mainly loans and deposits from abroad) amounted to 32%.  At sectoral level, the foreign investments in banks sector contributed a major value in the foreign liabilities, represented by 38% of the total value of foreign liabilities on Palestinian economy.

The Gross External Debt on the Palestinian economic sectors reached $1,680 million, an increase by 9.4% compared with previous quarter, the debt on government sector represented 61%, while debt on banks sector reached 34%, and debt on other sectors (nonbank financial corporations, non-financial corporations, NGOs and households sector) amounted to 2%, and the lending between affiliated companies reached 3%.

The International Investment Position (IIP) is an accounting sheet that records the investments stocks for the residents in Palestine (individuals, institutions and government) invested abroad under the name of assets, and compares them to the investments stocks owned by residents outside Palestine (individuals, institutions and government) invested in Palestine under the name of liabilities.

M.K.