Kahlon: ‘Economy is strong, ready to withstand any challenge’
June 26, 2016Finance Minister and head of ‘Kulanu’ party Moshe Kahlon spoke at the opening of the cabinet meeting today (Sunday), addressing concerns about the potential negative effects of Brexit on the Israeli economy.
“Over the weekend, I’ve had meetings with the Prime Minister, the Governor of the Bank of Israel, and other senior economic officials,” Kahlon said, “the Finance Ministry and the Bank of Israel are following the effects of Britain’s separation from the European Union closely. We’ve established a situation room, staffed 24-hours a day, to follow all developments.”
Britan’s vote to exit the European Union has had a destabilizing effect on world markets as uncertainty about the future of the UK’s trade relationships with the EU and other countries sets in. Kahlon pointed out that recent data shows that Israel’s economy is in good position to absorb any potential hits caused by the general instability.
“Just this weekend we found out that the current unemployment rate is among the lowest we’ve seen in recent decades (4.8%), our budget deficit is low, and our debt/equity ratio is among the lowest in the developed world.
We will continue to follow developments closely and react accordingly, if necessary.”
Similar posts
-
Israel Has The Most Moral Military In The World
April 10, 2024In the heart of a region often riddled with conflict, Israel stands out not only for its technologi...
-
The Resilience of the Israeli People
April 2, 2024Visitors from around the world have seen Hamas's October 7th Massacre's destruction in southern Isr...
-
Israel: Small Size, Big Impact
March 21, 2024Nestled along the eastern edge of the Mediterranean Sea, Israel is a land of immense historical sig...
-
Israelis Are Fighting For Their Lives
February 21, 2024By Jonathan S. Tobin The world looks a lot different from Kibbutz Kfar Aza than it does in the U...
-
Over 2 Million Arabs Live In Israel
January 23, 2024In the complex landscape of the Middle East, where diverse cultures and identities intersect, Israe...
-
'Fauda' Star Idan Amedi Injured Fighting in Gaza
January 8, 2024Despite the severity of his injuries, Amedi's father assured Israeli news channels that his life is...
-
Israel Is A Great Country To Live In
December 28, 2023Nestled at the crossroads of the Middle East, Israel stands as a vibrant and dynamic nation, offeri...
-
Women's Empowerment in Israel
December 15, 2023In recent decades, Israel has witnessed a remarkable evolution in the status and empowerment of wom...