BOI: More serious spending cuts needed

August 7, 2012 13:57


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user uxperience almost completely free of ads
  • Access to our Premium Section and our monthly magazine to learn Hebrew, Ivrit
  • Content from the award-winning Jerusalem Repor
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

The Bank of Israel said Tuesday that more serious spending cuts will be required in next year's budget in order to maintain deficit targets, Israel Radio reported.

An expected slowdown in growth will lead to decreased government revenues, according to the report, which means spending must be cut to avoid increasing deficits. The recent package of tax increases and spending cuts should help the problem, according to the report.

The central bank also reported that growth for 2012 was expected to settle at 3.1%, and that inflation would stand at 2.4 percent. 

Related Content

Breaking news
July 17, 2018
Iran arrests four members of suspected Islamic State cell