Israel's new NIS 50 bill.
(photo credit: BANK OF ISRAEL)
Prime Minister Binyamin Netanyahu and Bank of Israel Governor Karnit Flug presented the new NIS 50 bill at a press conference on Wednesday, announcing that it would go into circulation on Tuesday.
"In order that this bill retain its value, we must maintain security, as well as our economy," Netanyahu said.
Netanyahu praised Flug and the Bank of Israel for their efforts to maintain the stability of Israel's economy.
He said Israel would have to raise the defense budget in the aftermath of Operation Protective Edge, while preserving the health of Israel's economy.
"These two things meet in a deficit which we can control, that will not topple us. This will be our policy and that is how we shall act, together," Netanyahu said.
Flug also presented the new bill to President Reuven Rivlin who said that "Israel's economy is strong, but faces many dangers."
He said Israel must defend its economy against worldwide economic crises that can affect it.
Flug said the NIS 50 bill is the first in a series of new bills for Israel. She added that the bill, bearing the likeness of poet Shaul Tchernikovsky, "is unique both in its design and in its security technology, among the most advanced in the world."