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Prime Minister Ehud Olmert, today, received the Bank of Israel's 2007 Annual Report from BOI Governor Prof. Stanley Fischer, who presented several of economic achievements contained in the report. Among these were: 5.3% growth, a drop in the unemployment rate to a 15 year low, a reduction in poverty, balance in the state budget and a balance of payments current account surplus. Gov. Fischer also cited increases in Israel's credit ratings by several of the world's leading companies, the invitation for Israel to join the OECD and increased foreign investment in Israel.
Prime Minister Olmert said: "There is no doubt that last year witnessed several unprecedented achievements for Israeli society – a growth rate higher than in Western Europe or North America, for the fourth year; an apparent decline in poverty, for the first time in 25 years; the lowest unemployment data in years and increased exports. It is no coincidence that international companies have raised Israel's credit ratings and that investors continue to be confident. The Government's policy, led by Finance Minister Ronnie Bar-On, has proven itself and the Government will not deviate from the budgetary discipline it has set for itself. We will continue to maintain the three goals that we have set for ourselves: Reaching a diplomatic settlement, taking care of security and championing socio-economic issues, while maintaining budgetary balance. I can say that we are optimistic regarding the coming year. We expect growth to continue, even if at a slower pace than in previous years."
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