Netanyahu promises to lower prices through more competition

September 19, 2011 12:51


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Prime Minister Binyamin Netanyahu on Monday discussed plans to lower the cost of living in Israel, promising "less concentration and more competition."

The prime minister was joined by Finance Minister Yuval Steinitz and Bank of Israel Governor Stanley Fischer in a press conference to present the interim findings of the Committee on Increasing Competitiveness in the Economy.

Netanyahu said that he had commissioned the report a year ago when he realized that despite a healthy economy, the cost of living in the country was rising.

The prime minister stated that "competition is not the enemy of the consumer," but rather a lack of competition in the market led to the high cost of goods.

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