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      Archive: 12/10/2012
      13:06
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      News Brief

        12/10/2012, Kislev 26, 5773

      Bank of Israel: NIS 15 Billion in Budget Cuts Needed


      Governor Stanley Fisher of the Bank of Israel said, Monday, that the next government will be asked to cut 15 billion shekels from the budget and raise taxes. Speaking at the Israel Business Conference, Professor Fisher expressed concern that the government would find it difficult to reach the required deficit target due to political constraints.

      Fisher said the government faces decisions similar to the ones in 2003, following an economic crisis.