Ma'an – The Gaza government is facing a financial crisis in light of a ban imposed on bank transfers to the Hamas-led government by Egypt and resulting from the Israeli siege, an official said Wednesday.
Head of budgetary and financial affairs for Gaza's Palestinian Legislative Council Jamal Nassar told Ma'an that the de facto government is unable to access funds from abroad "because banks are enforcing the US National Bank's order to prevent any dealing with Hamas and the government."
"Gaza banks cannot ignore the US demand on transferring funds. Ninety percent of the government's funds come from abroad in the form of financial aid, and 10 percent is retrieved from collecting taxes and fees in Gaza," he said.
Nassar added that large, profitable companies in Gaza have refrained from paying taxes, negatively impacting the government.
"The government cannot disburse employees' salaries on the given date because it cannot receive funds, despite them being available abroad," he added.... Full story
Posts
