Recovery Plan for the Palestinian economy in the face of the challenges of the Corona pandemic.

This Recovery Plan for the period 2021 - 2023 is a nationwide multisectoral document aiming at (i) diagnosing the economic repercussions of the spread of the Corona epidemic in Palestine and (ii) reviewing government interventions and local, regional, and international bodies affecting the Palestinian economy. The Plan is based on the identification of a series of pillars to which target items are linked. These target items serve to identify the measures suitable for achieving national priorities. The Plan is divided into three levels, the urgent or emergency term (for the year 2020), the intermediate level of three years, and the long term, which covers up to 5 years.
The identified pillars are as follows (i) developmental vision and general context; (ii) financial policy; (iii) monetary policy; (iv) trade policy; (v) employment and social protection policy. Four pillars are also indicated for the sectoral policies and they regard (i) industry; (ii) tourism; (iii) agriculture; and (iv) domestic trade.
The target items linked to the national priorities are (i) the identity of the desired economy in order to formulate a development vision and strengthening the self-capacity of the Palestinian economy; (ii) the nature of the relationship with the Israeli economy to break free from dependence and association with the Israeli economy; (iii) income tax to improve the local collection and increasing local revenue; (iv) VAT to increase revenues and reducing the tax burden for specific groups and for development goals; (v) net lending to improve collection, controlling expenditures, and increasing the share of the local product; (vi) property tax and fees to improve their collection for government and municipalities; (vii) reform the clearing file by improving the conditions and mechanisms of work, which is reflected in increasing revenues and stopping financial leakage; (viii) review the Paris Economic Protocol in line with the Palestinian production and commercial priorities, while seeking to replace it with a contractual formula agreement; (ix) relief to enhance demand and liquidity in the markets, and reduce the exposure of more Palestinian families in the West Bank and Gaza Strip; (x) empowerment to gradually shift from relief programs to employment and empowerment programs.