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Finance Minister: Salary Payments Limited to 50%
Palestinian Finance Minister Stafanan Salama announced that the government will not be able to pay more than 50% of employees' salaries until the end of the year, due to the ongoing financial crisis and the withholding of revenue funds (Al-Muqassas) by Israel, which have reached six billion dollars. He pointed out that the banking relationship with Israeli banks, which provided services until the end of 2026, is heading towards termination, with two major banks ceasing their services, thereby threatening access to basic services and economic activity. He also confirmed that the government is working to reduce dependence on the shekel and to expand the use of alternative currencies and electronic payments, which are seen as both a security and economic necessity, to enhance financial stability amidst difficulties in financial communication with Israel. Regarding the fuel crisis, half of the Israeli trucks transporting fuel have stopped, and the government is working on establishing a government-owned fuel company to secure reserves and prepare for emergencies, as well as monitoring fuel smuggling activities. He emphasized that the funding crisis and the lack of international support aim to destroy the Palestinian entity, with potential for escalation in the future due to Israel’s escalation and its move to zero out revenue funds (Al-Muqassas).
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