Ramallah: The Palestinian National Authority (PNA) announced late Monday that Saudi Arabia will transfer $200 million to support its treasury to overcome the current financial crisis.

Dr. Salam Fayyad, Palestinian Prime Minister, said that King Abdullah Bin Abdul Aziz has issued instructions to fund the Palestinian budget.

The money transfer was announced ahead of Palestinian UN bid to win statehood recognition.

Sameer Al Hourani, a public sector employee, told Gulf News that the last thing almost 160,000 Palestinian employees thought of was receiving this month's salaries, taking the Palestinian UN bid into consideration.


He stressed that the Palestinian employees have been considering the threats coming from various sources of suspending the tax revenues and cutting of foreign aid to the PNA. "We are happy with the Saudi announcement of the money transfer," he said.

"The Palestinians were just right to depend on their Arab brothers," he stressed.

Israel has threatened to suspend the transfer of tax revenues which they collect on behalf of the Palestinians and the US Administration also considering cutting its financial aid to the PNA should the Palestinian leadership go ahead with their UN initiative to win statehood recognition.