BoI denies Fischer streamlining reports

IDF procurement of Chinese drones raises concerns

Reports had suggested that Stanley Fischer commended the Defense Ministry for meeting streamlining commitments.

Governor of the Bank of Israel Prof. Stanley Fischer did not comment on the issue of streamlining by the IDF at today's cabinet meeting on the defense budget, the Bank of Israel said today, in response to reports that he said that defense establishment was meeting its commitments under the Brodet recommendations.

The sources claimed that Fischer said, "The finance minister won't like what I am going to say now: the Bank of Israel examined the entire issue of the defense budget, and the defense establishment is meeting its commitments under the Brodet recommendations." He added, "The money going to the IDF from the Ministry of Finance have not materially exceeded the Brodet recommendations."

Published by Globes [online], Israel business news - www.globes-online.com - on August 15, 2012