VOL. XLVII

No 04

26-January-2004

BUDGETS AND REVENUES

Palestinian Budget Projects $889Mn Deficit In 2004

The Palestinian Legislative Council (PLC) on 16 January voted overwhelmingly (by 44 to 4) to approve the proposed budget for 2004 put forward by Finance Minister, Salam Fayyad, with a deficit forecast at $888mn. The figure matches the estimated deficit for 2003, which came in $142mn over the budgeted deficit of $747mn (MEES, 13 January 2003). Both revenue and expenditure are set to rise above...