West Bank Economy Grows 9% in First Half, Gaza by 16%, IMF Says

The Palestinian economy in the West Bank is estimated to have grown an annual 9 percent in the first half of this year, as Israel eased access restrictions, according to the International Monetary Fund.

The Gaza economy expanded about 16 percent during the same period, boosted by Israel’s relaxation of restrictions on imports, Oussama Kanaan, the organization’s chief of mission in the West Bank and Gaza, said today. The West Bank and Gaza are heading for 8 percent growth this year, up from 7.2 percent in the West Bank in 2009, and 5.4 percent in Gaza, Kanaan said.