Saudi Arabia, Palestinians Agree on Joint Business Council

Saudi Arabia and the Palestinians agreed on Thursday to establish a joint economic committee and a business council, as the Palestinian Authority faces a financing gap that could top $1.8 billion. Palestinian President Mahmud Abbas’s PA has been in deep financial crisis since February when Israel froze transfers of VAT and customs duties it collects on the Palestinians’ behalf. His administration had to impose austerity measures, cutting almost half the salaries of its employees. Abbas, who arrived in Riyadh on Wednesday, met with King Salman and Crown Prince Mohammed bin Salman, according to

Source: Saudi Arabia, Palestinians Agree on Joint Business Council

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