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A. Budgetary Operations and Financing
1. Summary and overview
Budgetary revenues accruing to the Palestinian National Authority (PNA) have been performing well during the third quarter of 2008, exceeding budgetary expectations.
Excluding one off items, such as license fees and dividends, gross PNA revenues collected in the third quarter of 2008 amounted to $ 410 million, with clearance revenues contributing $ 309 million (Tables 1 and 5). Gross revenues increased by 13% in NIS terms over the third quarter of 20071. This is a robust increase considering that inflation during this period did not exceed 9 % and that there was a sharp decline in Gaza’s economic activity. This is an indication of a rise in real consumption, fueled by large external budget support to the PNA, but also of higher production in the West Bank, which benefited from the higher consumption levels.
Measuring this performance against the 2008 budget, with the conservative assumption that fourth quarter revenues in NIS will be the same as in the third quarter, gross revenues would reach $ 1.57 billion, as opposed to $ 1.36 billion in the budget2 (Table 5).
This $ 200 million overachievement in revenue collection over the budget target is reduced to $ 130 million when looking at net revenues, because actual tax refunds have been running at a $ 130 million annual rate, whereas only $ 20 million were projected in the budget.
To download the full report please click below:
| Attachment | Size |
|---|---|
| FiscalDevThirdQuarter2008.pdf [2] | 38.33 KB |
Links:
[1] http://www.americantaskforce.org/resources
[2] http://www.americantaskforce.org/sites/default/files/FiscalDevThirdQuarter2008.pdf
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