An-Najah News - Nickolay Mladenov, United Nations Special Coordinator for the Middle East Peace Process urged  a bold actionby the stakeholders in order to help the Palestinian Authority (PA) sustain a devastating socio-economic impact of the coronavirus.

 He said in a statement.“I am concerned about the socio-economic consequences of the COVID-19 health crisis on the Palestinian people, particularly vulnerable communities in Gaza".

 the pandemic has a negative shock on both Israeli and Palestinian economies and it will have profound implications for public welfare, employment, social cohesion, financial and institutional stability in addition to the public health implications.
 Revenues from trade, tourism and transfers have declined to their lowest levels in the last two decades. It is estimated that the fiscal gap for 2020 will reach $1 billion by the end of the year.”

Mladenov said that with very ed control over its economy, the Palestinian Government does not have access to the conventional monetary and fiscal tools necessary to remedy the crisis, which are in the hands of Israel.

“Preserving the functioning and stability of the PA is vital to the security and well-being of both Palestinians and Israelis alike,” he added.

“The current situation is extremely dangerous and calls for bold action by all stakeholders.”

The UN official stressed that Israel has a critical responsibility in helping the PA deal with this crisis.in addition the Palestinian government will also require generous external support and technical assistance that is targeted directly to the recovery process.