BOO HOO

MAYBE IF THEY SPENT MORE TIME BUILDING RADIOS INSTEAD OF BOMBS AND TEACHING FINANCE INSTEAD OF HATE THEIR ECONOMY WOULD BE BETTER.

World Bank warns of dire outlook for Palestinian economy.
WASHINGTON (AFP) - The Palestinian economy risks implosion from an Israeli crackdown and threatened cuts in foreign aid following the election victory of hardline group Hamas, the World Bank said.

In the worst-case scenario, it said in a report for donor countries, unemployment among Palestinians will jump to about 40 percent this year and the percentage of those living below the poverty line will rise to 67.

The World Bank outlined four scenarios, with the worst and most likely being that Israel continues to withhold tax revenues owed to the Palestinian Authority (PA) and that Western governments cut their budget support.

Even under the best and improbable scenario of no abrupt change in funding for the PA, "Palestinian economic prospects are not good", the report said.