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Current:
Cutting the Budget
Tag:
Cutting the Budget
Needed: Leadership for Growth
November 15, 2002 |
Dr. Yitzhak Klein
Israel's economy has contracted for two consecutive years, and a third such year may well be in prospect.1 Savings and investment are down, unemployment has risen sharply,2 and Israelis' standard of living has dropped sharply since the end of 2000. Poverty and welfare payments are on the rise, together with defense expenditures occasioned by war with the Palestinians.
