By law, if a decision is not made by the end of the year, the surplus money will automatically go to finance the budget deficit – bringing it down to about 1.5 percent, 50 percent below the budget deficit target.
The main clauses of the bill include a separation of the major Israeli banks from Israeli credit companies. The three largest Israeli banks also currently own and operate the credit card companies.
Israel's sales and corporate taxes will be cut in order to spur a sluggish economy.
Finance Minister Moshe Kachlon and Bank of Israel Governor Karnit Flug met today to discuss Israeli banking.
The Bank of Israel has introduced a new fifty shekel note bearing the likeness of Russian-born Hebrew poet Shaul Tchernikovsky.
Jeremy Levin, who moved to Israel last year to take over the helm at Teva Pharmaceuticals only to be fired last month, say he...
PM Netanyahu and Finance Minister Lapid announced that acting Bank of Israel Governor Karnit Flug will be appointed as the next governor.
Flug will be...
Professor Leo Leiderman withdrew his candidacy for governor of the Bank of Israel, just two days before his election was to be announced.
Printed from: http://www.jewishpress.com/news/politics/national-opportunity-israels-treasury-expecting-5-billion-surplus/2017/10/26/
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