Netanyahu: Controlling expenditure must be continued

July 15, 2010 15:20

Prime Minister Binyamin Netanyahu said in a cabinet meeting Thursday "the story of the Israeli economy's success in the last decade stems from the fact that we took control of expenditures and enacted reforms and took other steps in order to increase both revenue and competitiveness.  We must continue this tradition."

Netanyahu was commenting on the state budget that was announced Thursday and continued by saying "we also have needs such as... education and social needs.  We also know that we are in a threatening environment and must respond accordingly.""We tried to achieve a comprehensive solution by the new fiscal rule, which leads to a certain restraint that is, to a certain degree, less than what is customary in other advanced economies," Netenyahu added. "The reason for this is mainly that the sum of their sins in the past decade is greater than ours."

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