Israel’s economy has performed remarkably well in the downturn of the global financial market. Minister of Finance Yuval Steinitz explains that Israeli business owners were given more confidence to invest and expand because of a two-year budget that was future-oriented. Israel’s fiscal policy differed from other countries’ plans which involved injecting emergency stimuli which will require a tax hike in the future. The abovementioned policy, he says, ensured stability in the Israeli economy during the downturn.
This briefing was sponsored by the Institute for Contemporary Affairs of the Jerusalem Center for Public Affairs.