MK Avishay Braverman (Labor) has called on Governor of the Bank of Israel Prof. Stanley Fischer to increase public spending from 1.7% of GDP to 2.5% of GDP in the 2008 budget, compared with the 2007 budget. He said that the increase in spending would make possible the NIS 2 billion needed for building classrooms and helping teachers, higher old-age pensions, health, and development of the Galilee and Negev.
Braverman said, "I call on the governor and the minister of finance to fundamentally change their flawed positions. Fischer greatly contributes to the Israeli economy, both because of his immense international prestige and because of his great professionalism. His immigration to Israel was an act of real Zionism.
"However, I disagree with the governor regarding fiscal policy and the deficit. The present policy puts future growth, social solidarity, and national strength at great risk."
Braverman was the Labor Party's candidate for minister of finance during the elections in February 2006.
Published by Globes [online], Israel business news - www.globes-online.com - on November 14, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007