Israel unveils economic stimulus package
Israeli Finance Minister Roni Bar-On on Wednesday unveiled a multi-billion dollar economic stimulus package aimed at reducing the impact on Israel of the global financial crisis.
By Agencies |
JERUSALEM: Israeli Finance Minister Roni Bar-On on Wednesday unveiled a multi-billion dollar economic stimulus package aimed at reducing the impact on Israel of the global financial crisis.
"We will invest 21.7 bn shekels (5.4 bn dollars) in 2009, or 41 percent more than the previous year, to promote the creation of thousands of jobs," the minister said at a news conference after presenting his plan to a restricted cabinet meeting that included caretaker Prime Minister Ehud Olmert and central bank chief Stanley Fischer.
He said the plan calls for government investments in infrastructure, public transport, roads, construction, energy and tourism. The state also should considerably increase financing of research and credits for small businesses, Bar-On said.
He stressed the Bank of Israel should lower its key interest rate.
But the ministry admits one of the main priorities is getting the 2009 budget passed, something analysts say would be difficult during the campaign for the February 10 legislative elections.
"We will invest 21.7 bn shekels (5.4 bn dollars) in 2009, or 41 percent more than the previous year, to promote the creation of thousands of jobs," the minister said at a news conference after presenting his plan to a restricted cabinet meeting that included caretaker Prime Minister Ehud Olmert and central bank chief Stanley Fischer.
He said the plan calls for government investments in infrastructure, public transport, roads, construction, energy and tourism. The state also should considerably increase financing of research and credits for small businesses, Bar-On said.
He stressed the Bank of Israel should lower its key interest rate.
But the ministry admits one of the main priorities is getting the 2009 budget passed, something analysts say would be difficult during the campaign for the February 10 legislative elections.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
