Hamas approves govt budget with deficit at 72 pct

Source:Xinhua Published: 2013-1-1 10:00:42

Hamas lawmakers in the Gaza Strip approved Monday a budget for the Islamist-led government, with a deficit of 72 percent, Hamas' parliamentary bloc said Monday.

The budget for the new fiscal year reached up to $897 million, while the total public revenue hit $243 million, covering 27 percent of the budget, said the bloc in a statement.

According to the statement, the budget suffers a deficit of $654 million. "The deficit will be covered by international donations," the statement read.

After Hamas controlled the Gaza enclave in 2007, the Hamas- dominated parliament has not convened. But Hamas MPs hold sessions in Gaza to approve fiscal budgets and pass some government resolutions.

Rival Fatah and other parliament blocs bills these sessions held unilaterally by Hamas as illegal.

Hamas receives funds from some Arab and Islamic countries like Iran and Qatar. It also depends on taxes, customs and agriculture.

Posted in: Economy

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