Net international investment position up 8% to $ 3,607m at end of Q3
RAMALLAH, Tuesday, December 21, 2021 (WAFA) – Preliminary international investment position (PII) (external assets – external liabilities) results for Palestine at the end of the third quarter of 2021 revealed that the net PII stood at 3,607 million dollars, an increase of 8% from the previous quarter, meaning that the Palestinian economy’s investment outside Palestine exceeds investment in Palestine from abroad, the Palestinian Central Bureau of Statistics said today (PCBS) and the Palestinian Monetary Authority (PMA).
They said in their joint report that 67% of the total external assets of the Palestinian economy are currencies and deposits.
The total stocks of foreign assets for the Palestinian economy amounted to $ 9,436 million, foreign direct investment abroad contributed 4%, portfolio investment abroad reached 16%, while that other foreign investment abroad (mainly foreign exchange and deposits) reached 72% and reserve assets amounted to 8%.
At the sectoral level, the foreign investments of the banking sector represented a significant part of the external assets (balances abroad, safes and portfolio investments) amounting to 71% of the total value of the external assets of the Palestinian economy. .
The total stocks of foreign liabilities in Palestine (stocks of non-residents invested in Palestine) amounted to $ 5,829 million, foreign direct investment in Palestine was 50%, portfolio investment in Palestine was 14%, and the others. investments in Palestine (mainly loans and deposits from abroad) amounted to 36%.
At the sectoral level, foreign investments in the banking sector contributed to a major value of external liabilities, represented by 36% of the total value of external liabilities to the Palestinian economy.
The stock of public external debt rose 0.4 percent to about $ 1.3 billion at the end of the third quarter of 2021.
The gross external debt of the Palestinian economic sectors reached 2,131 million dollars, an increase of 4% compared to the previous quarter. Debt to the public sector represented 62%, while debt to the banking sector (deposits of non-residents in banks operating in Palestine) reached 35%, and debt to other sectors (non-bank financial corporations, non-banking corporations). financial, NGO and household sector) was 2% and loans between affiliates reached 1%.