Hevrat Hashmal reported an increase in profits due to the repayment of debts by the Palestinian Authority.

The Israeli company Hevrat Hashmal published its financial report for the third quarter of 2024, noting a significant increase in profits. The company's revenue increased to NIS 8.98 billion, up NIS 800 million from a year earlier, while profits rose to NIS 1.2 billion.

The main source of profit growth was the transfer by the Ministry of Finance of taxes collected in Israel for the Palestinian Authority to pay off the debts of the East Jerusalem Electric Company in accordance with previously reached agreements with Ramallah.

By the beginning of the year, Hevrat Hashmal's debt obligations decreased by 5.7 billion shekels, now amounting to 32 billion shekels.