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  5/30/2013, Sivan 21, 5773

OECD: Israel's Budgetary Restraint the Right Decision


Secretary-General Angel Gurria of the Organization for Economic Cooperation and Development told Finance Minister Yair Lapid, Thursday, that Israel's budgetary restraint was proper for the state of the country's economy. Meeting during a gathering of OECD finance ministers, Gurria said Israel's choice of a non-differential value-added tax (VAT) was the right choice and that Israel's VAT - which will rise to 18 percent on Sunday - is still lower than the OECD average.

Gurria also welcomed Israel's steps to get more Arabs and hareidi-religious Jews into the labor force.