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      Archive: 12/30/2013
      00:44
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      News Brief

        12/30/2013, Tevet 27, 5774

      Bank of Israel: Fewer Services and More Taxes Likely


      Israelis are set to face a “double whammy” in 2014, according to the Bank of Israel.

      In a statement, the BOI said that in order for the government to remain within the deficit limits it set for itself – 2.5% of GDP in 2015 and 2% of GDP in 2016 – budget cuts wouldn't cut it. Tax increases would be needed as well.