– The Bad News:
There’s the need to improve productivity in the labor market, a need to improve infrastructure, investment in education, promoting consumer reforms and …
– The Good News:
“The Israeli economy has grown faster & more consistently than nearly any other in the OECD for the past 15 years,” and “Unemployment is at historically low levels.”
By Ariel Whitman, Reuters & Israel Hayom Staff
A new report by the Organization for Economic Cooperation and Development has found that the Israeli economy is one of the strongest economies in the world today.
OECD acting Chief Economist Alvaro Pereira, who is currently visiting Israel, presented the report Sunday to Finance Minister Moshe Kahlon, Finance Ministry Director General Shai Babad and Chief Economist Yoel Naveh. Continue Reading »
Israeli Ministers welcome Intel’s plan to upgrade its Kiryat Gat plant, which involves a reciprocal investment in the Israeli economy.
By Yishai Karov
Major hi-tech and computing company Intel is investing 5-6 billion dollars to upgrade its plant in Kiryat Gat, the company announced Wednesday.
The investment plan includes a deal between the company and the state, by which Intel will receive a 750 million shekel ($216,706,500) construction grant from the government in return for its commitment to invest 5% of the investment money into the Israeli economy.
Prime Minister Benjamin Netanyahu welcomed the investment plan Wednesday night.
“This investment plan is the result of the process we’ve been working on for several years,” the Prime Minister stated. Continue Reading »
Following Friday evening’s news magazine on Channel 2 suggesting funds intended for West Bank settlements were illegally transferred to Yesha Council for anti-gov’t campaigns, Minister Lapid orders his office to freeze funds transfers pending examination.
Finance Minister Yair Lapid ordered a halt on all money transfers to the settlements pending the clarification regarding their specific use, a statement on his behalf said Saturday evening.
Finance Minister Yair Lapid – Photo: Yair Sagi
The decision was made after Channel 2 television reported Friday evening that settlements were misusing government funds. Additional information also reached the finance minister, claiming funds were illegally transferred from the settlements to Yesha (Judea, Samaria and formerly Gaza) Council. Continue Reading »