Steinitz: Israel won't change economic model after gas find

By REUTERS
May 25, 2011 15:06

BRUSSELS - Israel is sitting on at least $150 billion in future revenues following the discovery of vast offshore gas deposits, Finance Minister Yuval Steinitz said on Wednesday, and hinted that the final figure could be much higher.

The discovery of the Tamar and Leviathan fields in the eastern Mediterranean over the past years promises to transform an economy that is already growing rapidly thanks to a booming high-tech sector and strong private sector investment.


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