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 A Thriving Economy

By Israel Today Staff |
‘A FLOURISHING ECONOMY’ Bank of Israel Governor Karnit Flug presents the annual report to PM Netanyahu Photo: Kobi Gideon/GPO

The Central Bank of Israel presented the 2016 Annual Report to Prime Minister Benjamin Netanyahu, saying that the nation’s gross domestic product (GDP) grew by four percent last year while maintaining near-full employment and an increase in wages.

Compared with the US GDP which increased only 1.6 percent in 2016 and an unemployment rate of close to 5 percent, Israel’s economy is thriving. The report called for “a significant and efficient investment in improving education and infrastructure [in order]…to increase labor productivity and the economy’s growth potential, thereby contributing to an increase in the standard of living of all Israelis. Such investment is the key to sustainable inclusive growth.”

The bottom line is that the Israeli economy is strong relative to other nations and has come through the global financial crisis in good shape.

“Israel’s economy is well-managed and flourishing,” said Netanyahu, adding that there is much more to accomplish: “First of all…integrating people into the workforce…and raising salaries. We must ensure that this growth continues…and that includes...

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