An-Najah News - An incessant deficit in the Current Account (goods, services, income, current transfers) totaled $349 million in first quarter 2020.

According to a statement by the Palestinian Central Bureau of Statistics (PCBS) and the Palestine Monetary Authority (PMA) on the preliminary results of the Palestinian Balance of Payments the  deficit in current account was mainly triggered by the deficit of the Trade Balance of Goods, which reached $1,237 million, 

The deficit in Services Balance, which amounted to $242 million and the surplus in Income Account (compensations of employees and investments income) amounted to $685 million. 

This surplus was due to compensations of the employees working in Israel, which reached $663 million.

 As for the received investments income, it amounted to $47 million; and was mainly caused by the income received on the portfolio investments abroad, in addition to the interest received on the Palestinian deposits in banks abroad.

The Current Transfers achieved a surplus value amounted to $446 million with a decrease of 3% compared to the previous quarter.
The preliminary results showed a surplus value for the Capital and Financial Account amounted to $556 million, the surplus in the Capital and Financial Account was mainly caused by the surplus in Financial Account which amounted to $484 million.