PM: Economic reforms cannot put our economy at risk

November 17, 2011 19:43
1 minute read.

Prime Minister Binyamin Netanyahu addressed the 2001 Israeli Poverty Report on Thursday, saying the government needed to facilitate changes to the national budget without "bringing the collapse of the Israeli economy."

According to the prime minister, the government has been committed since its formation to "slimming social gaps and reducing the poverty rate in Israel."

"A central way to handle reducing the gaps and cost of living is by allocating funds to child education, providing equal opportunity in the education system and personally investing in our students," Netanyahu said according to a written statement from the Prime Minister's Office.

Netanyahu said the government must also implement the recommendations of the committee for socioeconimic change - headed by Professor Manuel Trajtenberg - including "managing the negative income tax program, increasing participating on the labor market, continuing efforts to bring about a decline in unemployment, and further improving conditions for the poor in Israel."

"This is no easy task," Netanyahu cautioned.

The prime minister continued to warn against making sweeping economic changes that may harm Israel's economy. Those statements echo sentiments expressed by Finance Minister Yuval Steinitz and Bank of Israel chief Stanley Fischer.

"Just this week we learned that Israel's economy continues to grow as a result of the sound management of all the involved parties," Netanyahu said according to the statement.

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