Money (illustrative)
Money (illustrative)Flash 90

Saudi Arabia announced on Monday that it would increase its monthly aid to the Palestinian Authority's (PA) budget from $14 million to $20 million, the Ma’an news agency reported.

The increase brings Saudi Arabia's yearly aid to the PA budget to $60 million, matching the United Kingdom's budget aid, according to the report.

The PA's total annual budget for 2014 was $3.9 billion.

The Saudi Arabian statement stressed that the Kingdom will always support the “Palestinian cause” at all levels, noting that it has been planning to increase its stake in the budget since 2013.

Saudi Arabia in January provided $60 million in direct support for the PA budget, covering its financial contribution to the PA’s budget for October, November and December 2014.

The PA has repeatedly asked for foreign donations in recent years, claiming it is on the verge of collapse due to a worsening financial crisis.

While blaming Israel for the PA’s financial woes, its chairman Mahmoud Abbas continues to spend six percent of the PA’s annual budget to pay $4.5 million a month to jailed terrorists and another $6.5 million to their families.