web analytics
December 22, 2014 / 30 Kislev, 5775
 
At a Glance
Blogs
Sponsored Post
8000 meals Celebrate Eight Days of Chanukah – With 8,000 Free Meals Daily to Israel’s Poor

Join Meir Panim’s campaign to “light up” Chanukah for families in need.



Fisher’s Assessment: ‘The State of Israel’s Economy is Very Good’

Though it can boast many achievements, in Fisher's view, 'The state of Israel’s economy is very good, not excellent as it was in recent years.'
Governor of the Bank of Israel Stanley Fischer.

Governor of the Bank of Israel Stanley Fischer.
Photo Credit: Miriam Alster/Flash90

Yoram EttingerStraight from the Jerusalem Boardroom #178, April 26, 2013:

The following summary of the April 23, 2013 address by Stanley Fisher, Bank of Israel Governor, highlights economic indicators which reflect the relative strength of Israel’s economy during the global economic meltdown.  These indicators have enhanced global confidence in the long-term viability of Israel’s economy.

Far from being isolated, Israel has become an attractive partner for global trade, an exciting site for astute investors and giant high tech companies.  Israel’s economic performance is praised by the three leading global rating companies and the International Monetary Fund.

Here is are the key points from Fisher’s remarks:

1.  “The state of Israel’s economy is very good, not excellent as it was in recent years.”

2.  In 2013, Israel’s economy is expected to grow 3.8% - more than most OECD countries. 1% growth will derive from offshore natural gas production, which will substitute more expensive imported energy, lower overall imports and production costs and expand employment.

3.  Global trade is expected to expand only 3.6% during 2013, which does not bode well for Israel’s exports (40% of Israel’s GDP).

4.  Unemployment – 6.5% – is the lowest in thirty years.  Unemployment among the 25-64 age groups is 5.7%.  Apparently, more young ultra-orthodox Jews and Arabs are integrated into the job market.

5.  In 2013, the interest rate – 1.75% - attracts overseas investors in State of Israel Bonds.  In 2012, inflation rate was 1.3%.

6.  In 2003, Israel was burdened by more than 5% budget deficit, which increased interest paid by Israel on international borrowing. The deficit was eliminated, when Israel adhered to a balanced budget policy, which facilitated Israel’s solid economic performance during the global economic meltdown.  However, the global crisis slowed down Israel’s economic growth, decreasing tax income, which increased the budget deficit to 4% in 2012.  The government goal in 2013 is a 3% budget deficit.

7.  During the 1970s and 1980s, the defense budget was over 20% of GDP.  The impressive growth of GDP has diminished the ratio of the defense budget – which is the largest share of the national budget – to 7% of GDP in 2012, the lowest since 1954!

8.  In 2003, the public debt to GDP ratio was 99.3%; in 2012 it was reduced to 73.4%.

Visit The Ettinger Report.

About the Author: Ambassador (ret.) Yoram Ettinger is consultant to Israel’s Cabinet members and Israeli legislators, and lecturer in the U.S., Canada and Israel on Israel’s unique contributions to American interests, the foundations of U.S.-Israel relations, the Iranian threat, and Jewish-Arab issues.


If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

One Response to “Fisher’s Assessment: ‘The State of Israel’s Economy is Very Good’”

  1. Fullu Caplan says:

    Screw the Israelis with less benefits and more taxes just like is done in the US.

Comments are closed.

SocialTwist Tell-a-Friend

Current Top Story
Haredi men cast their votes for the 19th Knesset in Bnei Brak, January 22 2013.
New Poll: Shows Netanyahu Will Lead Next Gov’t with Haredim
Latest Blogs Stories
Sabraman

Sabraman: Israel’s first superhero, combining the courage of the Sabra and the faith of Abraham.

Mir

Is Haredi open-ended learning on charity better than earning a living that would obviate that?

chanuka

Hanuka is the miracle of emunah- belief in the L-rd of Israel and the light of our faith.

Lehava head led away in handcuffs

Limiting Jewish success and revival is that the anti-Jewish, anti-History Left rules here in Israel

The crisis in Jewish education is of existential importance. How should it be resolved?

BBC GUIDELINES ON TERRORISM: The word “terrorist” itself can be a barrier rather than an aid…

Discussion with entrepreneur William Heinecke on how he became a young, successful businessman

Did Cuba apologize for their spies the way Israel apologized for Pollard?

Nothing binds Jews together more than Torah observance; Or so one would think.

Sukkah tinsel decorations enjoy a robust market but are invariably manufactured for “another”holiday

A number of Israeli papers regurgitated a biased AP article on settlement growth, but they should have read it more carefully before hitting publish.

Many of the battles of the Maccabees were right here in the Shiloh area.

Both Labor and Likud are expected to get more seats in the upcoming elections.

Get a straight answer from Edward de Bono to the question: What is lateral thinking?

Jewish communities worldwide commemorate Yehudit during Chanukah by eating dairy foods in her honor

Israel’s problem isn’t Indyk, Obama, UN, NGOs or even the media; Our problem is much closer to home.

More Articles from Yoram Ettinger
The National Menorah at the White House.

Amb. Cooper highlighted the impact of the Chanukah/Maccabee spirit on America’s Founding Fathers

Jewish Holidays' Guide for the Perplexed

Chanukah is the holiday of liberty, combining The Book (faith and dedication to God) and the sword

Col. Meinertzhagen: Brit. policy in the Middle East bets on the wrong horse when appeasing the Arabs

Assuming that Israel’s economic growth depends on the conclusion of peace accords is inaccurate.

The soaring threat of Islamic terrorism to the US mainland, pro-US Arab regimes, Europe, India, Asia, Africa and Australia has reaffirmed Israel’s role as the moral and military outpost of the US in the Middle East. Israel’s strategic role has gained in importance against the backdrop of the US withdrawal from Iraq and Afghanistan, the […]

Terrorists aren’t driven by social, economic, or other grievances, rather by a fanatical worldview.

Battling Arab terrorism is undermined by focusing on symptoms rather than its cause, hate-education.

Sukkot is a universal holiday, inviting all peoples to come on a pilgrimage to Jerusalem.

Printed from: http://www.jewishpress.com/blogs/the-ettinger-report/fishers-assessment-the-state-of-israels-economy-is-very-good/2013/04/28/

Scan this QR code to visit this page online: