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Wage Hikes in West Bank Raise Prices
The article illustrates the extent of the deterioration in the purchasing power of wages in the West Bank over twenty years. While prices have increased by 57%, real wages have only risen by 20%, leading to a significant erosion of the actual value of wages. Data shows that relative wage increases have not kept pace with inflation, as every shekel increase in wages is offset by a three-shekel rise in prices. This is largely due to the heavy dependence on the Israeli economy, where the average daily wage for Palestinian workers in Israel and settlements is around 250-276 shekels, compared to 135 shekels in the Palestinian market, with substantial disparities in income levels. The Paris Protocol is part of the problem; it mandates that Palestinian territories be included in the unified customs zone with Israel, burdening Palestinians with high taxes and tariffs that contribute to rising prices. This results in a distorted Palestinian economy and low income levels, amidst ongoing economic challenges. It is essential to restructure the Palestinian economy to free it from Israeli control and to achieve a greater balance between wages and prices.
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