News Briefs

  6/10/2013, Tammuz 2, 5773

Bank of Israel: Tax Hikes Needed in 2015 and 2016

The Bank of Israel said, Sunday, that a tax increase of four billion shekels will be needed in 2015 and a tax hike of seven billion shekels will be needed to meet the government's budget-deficit targets.

The bank also claimed, in a special economic review, that six billion shekels will have to be cut from the budget to avoid going through the ceiling established by law.