RAMALLAH: The Palestinian Central Bureau of Statistics (PCBS) and the Palestine Monetary Authority (PMA) announced the preliminary results of the International Investment Position (IIP), and External Debt statistics for Palestine as of end of the Second quarter 2024 and end of year 2023. The primary results of the IIP (external assets – foreign liabilities) for Palestine at the end of the Second quarter 2024 revealed that the net IIP amounted to $5,268 million.
PMS and PCBS in a statement said 56% of the total external assets of the Palestinian economy are currency and deposits at the end of the second quarter of 2024, due to the absence of a Palestinian national currency, also an increase of 27% of clearance held by Israel compared with previous quarter.
The total stocks of External Assets for Palestinian economy amounted to $11,312 million, the Foreign Direct Investment Abroad contributed to 3%, and Portfolio Investments abroad reached 15%, while Other Foreign Investments Abroad (mainly currency and depos
its) reached 71% and Reserve Assets amounted to 11%
The statement added that 54% of the total foreign liabilities on the Palestinian economy at the end of the second quarter of 2024 are foreign direct investment.
The total stocks of Foreign Liabilities in Palestine (stocks of non-residents invested in Palestine) amounted to USD 6,044 million, the Foreign Direct Investment in Palestine contributed to 54%, Portfolio Investments in Palestine reached 10%, and Other Investments in Palestine (mainly loans and deposits from abroad) amounted to 36%.
The Gross External Debt on the Palestinian economic sectors reached $2,163 million; an increase by less than 1% compared with previous quarter.
Debt on government sector represented 60%, while debt on the banking sector (deposits of non-residents in banks operating in Palestine) reached 36%, and debt on other sectors (non-bank financial corporations, non-financial corporations, NGOs and households sector) amounted to 3%, and the lending between affiliated companies re
ached 1%.
Source: Palestine news & Information Agency – WAFA