Steinitz: Israel's economy will survive the crisis

Finance Minister Yuval Steinitz and Bank of Israel Governor Stanley Fischer discussed Operation Pillar of Cloud's implications for the economy.

Minister of Finance Yuval Steinitz and Governor of the Bank of Israel Prof. Stanley Fischer met yesterday at Steinitz's office to discuss the performance of the economy and the implications of Operation Pillar of Cloud by the IDF in Gaza.

In a statement, the Ministry of Finance said, "The Minister of Finance and the Governor agreed that for the time being, the markets appear to be performing properly. Foreign and local investors recognize the ability of the Israeli economy to emerge from security crises of various scopes without any significant harm. Experience from similar incidents in the past shows that the economy resumes full operation and, within the medium range, even compensates for damage that was incurred from these incidents in the short range. The Minister of Finance and the Governor stressed the importance of constantly monitoring developments."

Steinitz said, “The Israeli economy has displayed maturity and stability in previous security crises. I am convinced that the economy will survive the present crisis as well."

Ministry of Finance Director General Doron Cohen, Head of Economics and State Revenues Finance Dr. Michael Sarel, and Assistant Governor of the Bank of Israel Dr. Karnit Flug also participated in the meeting.

Published by Globes [online], Israel business news - - on November 20, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018