Minister Ben-Eliezer: 47,000 businesses will close by year's end

By JPOST.COM STAFF
June 8, 2009 12:46

"By the end of the year more than 47,000 businesses will close," Industry, Trade and Labor Minister Binyamin Ben-Eliezer said Monday. Speaking at an employment conference in Jerusalem, Ben-Eliezer presented worrying data collected by his ministry. "The situation is bad. We are talking about some 10.5% of businesses in Israel... As a government we need to deal with the problem of credit being stifled," he said. "Unyielding support and stimulus funds do not answer the problem." According to research carried out by the Industry, Trade and Labor Ministry, 85% of businesses facing closure were small independent businesses where usually a single person works.


Related Content

Breaking news
April 24, 2018
Quake in southeast Turkey injures 13

By REUTERS

Israel Weather
  • 16 - 31
    Beer Sheva
    17 - 25
    Tel Aviv - Yafo
  • 15 - 27
    Jerusalem
    16 - 27
    Haifa
  • 19 - 32
    Elat
    18 - 32
    Tiberias