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Created: 10/08/2013 11:36 AM | Print |  Email

News Summary: World Bank analyzes West Bank market

PALESTINIAN ECONOMIC PAIN: The World Bank said that Palestinians could expand their struggling economy by a third and slash their budget deficit in half if Israel allowed them to use West Bank territory that is now largely off-limits.

POLITICAL REALITIES: Israeli Foreign Ministry spokesman Yigal Palmor said most of the issues raised by the World Bank are to be settled in ongoing Israeli-Palestinian negotiations. Developing the Palestinian economy is in Israel’s strategic interest, but is "related to questions of security."

THE TERRITORY: Israel controls about 61 percent of the West Bank, or Area C, as well as security and crossings in and out of the area. Palestinians administer the rest of the West Bank.

(Copyright 2013 by The Associated Press. All Rights Reserved.)