Thursday, August 30, 2012

Israelis subsidizing PA electric bill by $120M a year

Ma'ariv reports that it was discovered yesterday that Israeli taxpayers are subsidizing the PA's electricity bills to the tune of nearly half a billion shekels a year.

During a Finance Committee meeting, it was disclosed that when Israel deducts debts every month from the money owed to the PA in tax revenues under existing agreements, it has been only deducting 60% or so of the money the PA owes for electricity. This comes out to 40 million shekels a month, or the equivalent of US$120 million a year

That is the equivalent of Israel's entire cultural budget.

This appears to be separate from the $105 million owed directly to the Israel Electric Company by the PA.

Do you think The World Bank knew all this when they said that the PA is ready to become a state?

(h/t Elizabeth)