Speaking to the Voice of Palestine, Abdel Razeq said that his ministry might provisionally solve the problem by loaning government employees parts of their wages.

Such a move, however, was "subject to the fund and aid which some countries promised to transfer," said Abdel Razeq, also amember of the ruling Islamic Resistance Movement (Hamas).

The Palestinian government led by Hamas, which is committed to Israel's destruction, is faced with a formidable financial crisis as the United States, the European Union and other countries cut off financial aid to the cabinet.

Hamas is required to recognize Israel and renounce violence so as to get aid from major international donors.

Foreign donors, including the United States and the European Union, have been playing a big role in economically supporting the Palestinian National Authority since it was established in 1994 as part of the Oslo Accords signed between Israel and the Palestinians.

Hamas, which came into power on March 29, refuses to abandon its hardline position, resulting in cut in aid by international donors.

But some countries such as Iran, Qatar and Russia have promised to help the Hamas-led Palestinian government to overcome the ongoing crisis.

On Sunday, Iranian Foreign Minister Manouchehr Mottaki announced Iran's donation of 50 million U.S. dollars to the cash-strapped Hamas government.

Qatar followed suit one day later, saying it will give 50 million dollars in aid to the Palestinian government.The Qatari aid, according to Abdel Razeq, has already been sent to the Arab League which will decide on how to deliver the aid to the Palestinian government.

"We will not give deadlines when the salaries would be paid unless we get the money in our hands," Abdel Razeq said.

He said that the financial crisis, more or less, has lasted for seven years, adding that he would manage to reduce it despite an economic blockade.

He also dismissed a warning by a UN report, which cautioned against deterioration of the humanitarian situation in the Palestinian territories.

"We are not on the brink of collapse or hunger," Abdel Razeq said.

But he did not rule out the possibility of a humanitarian crisis.

"This might happen if the current economic crisis lasts for a long period," he said.