Aboul Gheit: Palestine’s Budget Deficit Amounts to $700 Million

Arab League Secretary-General Ahmed Aboul Gheit. Reuters file photo
Arab League Secretary-General Ahmed Aboul Gheit. Reuters file photo
TT
20

Aboul Gheit: Palestine’s Budget Deficit Amounts to $700 Million

Arab League Secretary-General Ahmed Aboul Gheit. Reuters file photo
Arab League Secretary-General Ahmed Aboul Gheit. Reuters file photo

Arab League Secretary General Ahmed Aboul Gheit said that Palestine’s budget deficit reached $700 million this year.

His statement came during an emergency meeting of the Arab foreign ministers in Cairo on Sunday.
 
“We are able to support the Palestinians through the financial safety net, or in any form of financial support, including grants or even loans, in order to help them overcome the pressing and dangerous crisis,” he said.
 
In a statement issued at the end of the meeting, the ministers emphasized their commitment to the decisions of the Arab League, with regards to the establishment of a financial safety net to support the budget of the Authority, worth $100 million per month.
 
The finance ministers stressed “Arab support for the political, economic and financial rights of the State of Palestine and the need to ensure its political, economic and financial independence.” They also condemned the “Israeli hijacking of the Palestinian people’s money” and called on the international community to exert pressure on the Israeli government in this regard.
 
The Arab finance ministers proposed to provide soft loans within the safety net through a bilateral agreement with Palestine, and to continue to support infrastructure and development projects through financial aid or soft loans.
 
The final communiqué also called on Arab funds and institutions, as well as Arab banks, to contribute to the financial safety net by providing soft loans to the State of Palestine in direct coordination with the Palestinian competent authorities.
 
Shoukri Beshara, the Palestinian minister of finance and planning, had earlier called on Arab finance ministers to “activate the Arab safety net in accordance with the resolutions of the League of Arab States,” noting that Israeli sanctions put the Palestinian economy at a critical juncture.



Suspected US Airstrikes in Yemen Kill at Least 4 People Near Hodeidah

A man holds a rifle as protesters, mainly Houthi supporters, rally to mark the annual al-Quds Day (Jerusalem Day) on the last Friday of the Muslim holy month of Ramadan, in Sanaa, Yemen March 28, 2025. REUTERS/Khaled Abdullah
A man holds a rifle as protesters, mainly Houthi supporters, rally to mark the annual al-Quds Day (Jerusalem Day) on the last Friday of the Muslim holy month of Ramadan, in Sanaa, Yemen March 28, 2025. REUTERS/Khaled Abdullah
TT
20

Suspected US Airstrikes in Yemen Kill at Least 4 People Near Hodeidah

A man holds a rifle as protesters, mainly Houthi supporters, rally to mark the annual al-Quds Day (Jerusalem Day) on the last Friday of the Muslim holy month of Ramadan, in Sanaa, Yemen March 28, 2025. REUTERS/Khaled Abdullah
A man holds a rifle as protesters, mainly Houthi supporters, rally to mark the annual al-Quds Day (Jerusalem Day) on the last Friday of the Muslim holy month of Ramadan, in Sanaa, Yemen March 28, 2025. REUTERS/Khaled Abdullah

Suspected US airstrikes battered Houthi-controlled areas of Yemen into Wednesday, with the militias saying that one strike killed at least four people near the Red Sea port city of Hodeidah.

The intense campaign of airstrikes in Yemen under US President Donald Trump, targeting the militias over their attacks on shipping in Mideast waters stemming from the Israel-Hamas war, has killed at least 65 people, according to casualty figures released by the Houthis.

The campaign appears to show no signs of stopping as the Trump administration again linked their airstrikes on the Iranian-backed Houthis to an effort to pressure Iran over its rapidly advancing nuclear program. While so far giving no specifics about the campaign and its targets, White House press secretary Karoline Leavitt put the overall number of strikes on Tuesday at more than 200.

“Iran is incredibly weakened as a result of these attacks, and we have seen they have taken out Houthi leaders,” Leavitt said. “They’ve taken out critical members who were launching strikes on naval ships and on commercial vessels and this operation will not stop until the freedom of navigation in this region is restored.”

Overnight, a likely US airstrike targeted what the Houthis described as a “water project” in Hodeidah governorate's Mansuriyah District, killing four people and wounding others. Other strikes into Wednesday targeted Hajjah, Saada and Sanaa governorates, the militias said.