Palestine seeks US $500m to cover treasury deficit

Palestine government is currently working to secure US $500 Million to fill the State Treasury deficit and cover employees' salaries up to December 2013, Prime Minister Rami Hamdallah has said. In a media statement late Monday night, Hamdallah said he will meet with Catherine Ashton, the High Representative of the Union for Foreign Affairs  and Security Policy/Vice-President of the European Commission, on September 9 in Brussels as part of a series of meeting within the framework of his foreign tour to secure financial aid to the State Treasury. The Prime Minister reiterated the importance of political and financial support by the international community to the Palestinian government which is building state institutions and embarking upon various economic projects. He also stressed the need to enhance international role in reducing Israel's restriction on Palestinian economy.