Finance Minister Moshe Kahlon said his ministry was monitoring the repercussions for Israel of the Brexit referendum 24/7.
Ministry of Finance Moshe Kahlon said today at the beginning of the capital meeting, "We have a strong and stable economy that is capable of meeting any challenge"
Kahlon was commenting on Britain's decision to leave the European Union. "Over the weekend, I talked to the prime minister, the governor of the Bank of Israel, and people in leadership positions in Israel's economy. The Ministry of Finance and the Bank of Israel are monitoring economic effects relating to the State of Israel as a result of Britain leaving the European Union.
"At the Ministry of Finance we have set up a situation room that is following developments and is manned twenty-four hours a day. We have a strong and stable economy that is capable of meeting any situation and any challenge. Only at the end of last, we received unemployment figures that were among the lowest we have known in decades. Israel's economy benefits from a low fiscal deficit and a debt-to-GDP ratio that is one of the lowest among developed countries."
Published by Globes [online], Israel business news - www.globes-online.com - on June 26, 2016
© Copyright of Globes Publisher Itonut (1983) Ltd. 2016
Moshe Kahlon Photo: Yonatan Bloom