Outgoing Bank of Israel Governor Stanley Fischer released his final annual report Tuesday. He stated that the economy was in good shape "with the exception of the budget deficit as seen by a deficit of 4.2%."
Fischer added, "growth is relatively good (3.1%), inflation is low (1.6%), unemployment is at its lowest rate for 30 years but there is a problem in the budget which must be dealt with before it becomes greater. I am pleased to see that the new Finance Minister is taking the deficit into account and understands the depths of the problem. There is much talk today about the middle class but it is no less important to talk about the poor in society and how they too can enjoy the growth in the economy."