Publishing Institution: Pal-Think For Strategic Studies / Topic: International Political Economy

Author:: Emad Drimly and Fares Akram
Publication Date:: 11-2018
Content Type:: Special Report
Institution:: Pal-Think For Strategic Studies
Abstract:: GAZA, Hamas parliamentary bloc has recently approved the financial budget for Hamas’ government in the Gaza Strip, officials said on Monday. The Hamas-dominated Palestinian Legislative Council (PLC) approved the budget, although other parliamentary blocs, including Palestinian President Mahmoud Abbas’s Fatah movement, boycotted the session. The budget for the fiscal year is 428 million U.S. dollars and it applies only in the Hamas-controlled Gaza Strip, excluding the West Bank which is ruled by the Palestinian National Authority (PNA) led by Abbas. Fatah says the PLC sessions have been illegal since June 2007 when Hamas routed pro-Abbas forces and seized control of the coastal strip. The approval of the budget took place as Israel still keeps a tight blockade on Gaza and amid vagueness and controversy over Hamas’ financial resources. In the West Bank, the Western-backed Abbas government goes through fiscal crisis despite financial support from the international community.
Topic:: Democratization, International Political Economy, and Geopolitics
Political Geography:: Gaza

Author:: Pal Think
Publication Date:: 09-2018
Content Type:: Special Report
Institution:: Pal-Think For Strategic Studies
Abstract:: Investment opportunities are rare in the Gaza Strip. So when Nabila Ghabin saw one last year, she pawned her car and jewelry and put $12,000 into a network of tunnels that brought in supplies smuggled from Egypt. She was one of about 4,000 Gazans who gave cash to middlemen and tunnel operators in 2008 as Israel blocked the overland passage of goods. Then Israeli warplanes bombed the tunnels before and during the Dec. 27 to Jan. 18 Gaza offensive and the investments collapsed. Now investors, who lost as much as $500 million, want their money back from Hamas, which runs Gaza. Hamas Economics Minister Ziad Zaza says about 200 people were taken into custody in connection with the tunnel investments; most have been released. Hamas is offering a partial repayment of 16.5 cents on the dollar using money recovered from Ihab al-Kurd, the biggest tunnel operator. The imbroglio over the 800 to 1,000 tunnels has deepened Hamas’s decline in public opinion in Gaza and highlights the Wild West nature of the underground economy that supports this jammed enclave of 1.4 million people
Topic:: International Political Economy, International Security, and International Affairs
Political Geography:: Gaza

Author:: Pal Think
Publication Date:: 12-2008
Content Type:: Commentary and Analysis
Institution:: Pal-Think For Strategic Studies
Abstract:: Local banks in Gaza, under pressure from Israeli sanctions, are running out of cash and desperate Palestinians lined up at branches Monday hoping to pull money out of frozen accounts. But most banks have sharply curtailed withdrawals over the past two weeks and some have posted signs telling customers they cannot take out any more money. The U.N. stopped distributing cash handouts to Gaza’s poorest last week. Economists and bank officials are warning that tens of thousands of civil servants will not be able to cash paychecks next month. “No society can operate without money, but that’s the situation we are reaching in Gaza,” said economist Omar Shaban. The Israeli shekel is a widely used currency in the Gaza Strip, and the territory needs at least 400 million shekels, or about $100 million, each month in new currency to replace aging notes and to pay salaries
Topic:: International Political Economy and International Affairs
Political Geography:: Gaza

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