In an interview with Reshet Bet radio, Minister of Finance Yuval Steinitz said that the budget framework must not be breached. In response to the demands by the social protesters, he said that the Western world was undergoing a second economic crisis that is liable to affect Israel.
"In Europe, there is a crisis of unemployment and a huge investment crisis. My task as finance minister and the task of the government are to deal with the new wave in the crisis," he said.
Steinitz added that, in addition to protecting the budget framework, the government should encourage exports, investment, and jobs, and prevent mass unemployment. "These are our challenges."
Steinitz spoke about the need to stimulate economic growth and perverse existing growth engines. He warned, "All these things are critical so that we can successfully cope with the crisis, as we successfully handled the first wave of the crisis two years ago."
Steinitz avoided any direct reference to the demands for social justice and a different distribution of resources. As one of the few ministers who supports Israeli apologies to Turkey and Egypt, he said, "It is important to protect our strategic relations with Turkey and Egypt; not any price, but these relationships are very important."
Published by Globes [online], Israel business news - www.globes-online.com - on August 23, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011