Treasury chief steps down

Ministry of Finance director general Shai Babad has told Minister of Finance designate Yisrael Katz that he will be stepping down after the new government is sworn in. The announcement said that at the request of Katz, the final date of Babad's departure will be coordinated between the parties.

The announcement said that Babad has offered to put his experience at the service of the Israeli government, "so that handing over the baton will be carried out in the best way in this challenging time."

Babad, who had considered stepping down a year ago, said, "In the past five year, I have had the great privilege of my life in serving the citizens of the State of Israel in one of the most influential and important positions in public life. I thank Minister of Finance Moshe Kahlon for the confidence he had in me and allowing me to fulfil this public duty in the best posswible way, and to my wife and family for the great support over the years without whom I couldn't have carried out this job. I also wish Minister Katz great success as Minister of Finance."

Published by Globes, Israel business news - www.globes-online.com - on May 11, 2020

Treasury chief steps down

Shai Babad said that he is stepping down after the new government is sworn in and Yisrael Katz becomes finance minister.