Students deepen understanding of Jerusalem’s economic situation

The Executive Masters of Business Administration Program at Birzeit University organized a lecture entitled “Jerusalem’s Economy: Where is it Heading?” on March 24, 2018. 

The lecture, presented by former Minister of National Economy Mazen Sinokrot, was attended by Dean of the Faculty of Business and Economics Professor Grace Khoury and a number of faculty members and students. 

Sinokrot reviewed the challenges and obstacles that hinder the development of Jerusalem’s economy, mainly: “Israeli Judaization policies, demographic changes, forced store closures – especially in the Old City –  and high taxation on Palestinians.” 

“The Israeli authorities gain economically when they allow Palestinian labor into 1948-occupied territories, so much so that 70 cents of every 1 U.S. dollar made by Palestinian workers flows back into the Israeli economy,” added Sinokrot. 

Sinokrot gave a number of suggestions that would help to develop the city’s economy, such as taking advantage of the programs offered by the Palestinian Investment Promotion Agency, building schools and promoting education, and allocating a certain amount of Palestinian salaries that would go toward supporting East Jerusalem’s economy.