Middle East Flashcards
How significant is intra-regional trade in the Middle East?
Jan 2024
Makes up about 20% of exports
And these routes are now blocked
B/c of Gaza war and its ripple effect
What percentage of world goods are moved through the Red Sea? How much has it now dropped?
Jan 2024
10% of world goods
…
It’s now at 30% of usual levels of shipping volume
What’s the population of Egypt?
110m
Why is Egypt in trouble b/c of the Red Sea situation?
Jan 2024
Earned $9bn in tolls for year up to June
Needs this money for imports (it’s foreign currency reserves in Central Bank are running out)
Also to cover budget deficit
Year to date revenues are down 40%
How much of GDP in Israel comes from tech?
Jan 2024
20%
When did Lebanon last default?
2019
How has Lebanon’s economy fared in this war?
Jan 2024
Freefall
Foreign banks and tourists (70%) of economy have left
How is the West Bank’s economy doing in the war?
Jan 2024
Not well
200,000 workers who go to Israel have had their permits revoked
160,000 civil servants not getting paid (West Bank Govt are not accepting Israel funds, from tax collection, b/c they are not releasing the Gaza portion)
Public services are shutting down; missed mortgage payments - potential banking crisis
What is population of West Bank?
3.1m
How has the oil price fared?
Jan 2024
Mostly stable
What taxes do Israel collect on behalf of PA?
Jan 2024
Under Oslo Accords
Customs on goods entering the West Bank and Gaza through Israeli ports
Israel collects these and is supposed to transfer to PA
How much tax dollars do Israel collect on behalf of PA annually?
Jan 2024
~$2 billion annually
