Netanyahu: Israel can make GDP per capita top ten within decade

Minister of Finance Benjamin Netanyahu today convened a press conference to mark two years at his post. The minister's main topic of discussion was Israel's ability to undergo a revolution within ten years to reach the top ten countries in the world in terms of pre capita income and standard of living.

Netanyahu added that he planned to privatize a great many more government companies quickly. He said he had recently heard rumors that he wanted to stop the privatization of Bezeq (TASE: BZEQ). He said response that this privatization would reach the next stage within two weeks.

Netanyahu mentioned Ireland as a successful economic example, which was able to end many years of discordant employer-employee relations, thereby putting the country on the path to growth.

Clinical Legal Education Center for Human Rights and Social Responsibility director Adv. Yuval Elbashan said this morning, "Netanyahu's policies have effectively turned Israel into a Third World country, in terms of harming the poor and hungry. Third World countries are characterized by the absence of a middle class." He added, "Beside the economic elements, Netanyahu has succeeded in turning Israel from a country of social cohesion into a society of lone wolves, in which every man is for himself. In this way, he has been able to divide and rule, while leading measures that favor the small layer of tycoons."

Published by Globes [online], Israel business news - www.globes.co.il - on April 10, 2005