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Sunday, February 19, 2017

Netanyahu: Israel's economy is growing

During the government's weekly Cabinet meeting, Israeli Prime Minister Binyamin Netanyahu spoke about his upcoming trip to Australia and the growth of the Israeli economy.

"In Australia I will, together with Prime Minister Malcolm Turnbull, hold a meeting with businesspeople from both countries in order to increase trade between Israel and Australia," Netanyahu said. "What we are doing to strengthen Israel's standing in the world.

"This was apparent during my visit in Washington, as it was during my previous visits to the Islamic world and now to Australia and other major powers in Asia, and it is clear that there is also an economic aspect here – is to open new markets. This is one of the things that contribute to strengthening Israel's economy.

"But what contributes to strengthening the economy is first and foremost the right economic policy, and I would like to congratulate the Finance Minister, and the other ministers, on our joint effort and the results.

"While I was in Washington, we received very impressive results. According to Central Bureau of Statistics' estimates, and these are estimates, growth in the second half of 2016 reached and surpassed 5% on an annualized basis. The Israeli economy in 2016 grew by 4%. Note the two separate halves; the first half of 2016, 3.8%, and the second half of 2016, 5.2%.

"We are on a very clear growth trend. When looking at the OECD countries, we are towards the top of the list, almost at the head, and this is very important. This creates jobs, raises wages and is good for the citizens of Israel. READ MORE