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The Palestinian Authority, its economy crippled by donor fatigue and conflict with Israel, is looking to offshore gas and loan restructuring as possible lifelines, its deputy prime minister said.A peace agreement with Israel could also go a long way to pulling the Palestinian economy out of its slump, Deputy Prime Minister Mohammed Mustafa said in an interview in Davos.The International Monetary Fund, in a September report, projected Palestinian economic growth would slow to 4.5 percent in 2013 from 5.9 percent in 2012, with unemployment topping 20 percent.Israeli Foreign Ministry spokesman Yigal Palmor denied that Israel was holding back the Palestinian economy.A public sector of 170,000 employees gobbles up about two- thirds of the government's budget, which Mustafa said was $3.6 billion in 2013 and had a $1.3 billion deficit.Mustafa said he's looking into restructuring debt by issuing a few hundred million dollars in five-year bonds to local banks and examining the benefits of Islamic finance.
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