Israel Matzav: As Obama obsesses with 'settlements' the 'West Bank' is flourishing

As Obama obsesses with 'settlements' the 'West Bank' is flourishing

Israeli ambassador to the United States Michael Oren has a column in Friday's Wall Street Journal that shows how the 'Palestinian' economy in Judea and Samaria is flourishing while the Obama administration obsesses with 'settlements' and misses the boat.

Imagine an annual economic growth rate of 7%, declining unemployment, a thriving tourism industry, and a 24% hike in the average daily wage. Where in today's gloomy global market could one find such gleaming forecasts? Singapore? Brazil? Guess again. The West Bank.

According to the International Monetary Fund (IMF), the West Bank economy is flourishing. Devastated by the violence and corruption fomented by its former leadership, the West Bank has rebounded and today represents a most promising success story. Among the improvements of the last year cited by the IMF and other financial observers are an 18% increase in the local stock exchange, a 94% growth of tourism to Bethlehem—generating 6,000 new jobs—and an 82% rise in trade with Israel.

Since 2008, more than 2,000 new companies have been registered with the Palestinian Authority in the West Bank. Where heavy fighting once raged, there are now state-of-the-art shopping malls.

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Israel Matzav: As Obama obsesses with 'settlements' the 'West Bank' is flourishing