Fischer: 6 percent growth could be achieved easily

November 3, 2005 01:42
1 minute read.


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Israel's economy could "easily" grow at 6 percent, Bank of Israel Governor Stanley Fischer told the Jewish Agency's board of governors Wednesday. "We can grow much more than Europe if the security situation is good," he told them. But even without a breakthrough on the security front, Israel could still grow more than the EU, he said. The EU growth rate is less than 3%. He told the crowd, comprised largely of Diaspora Jews, the bulk of them from America, that international investment is hugely important to the Israeli economy, which has "truly moved into the international arena" thanks to an increasingly free market environment. He cited the fact that Israel, after the United States and Canada, has the greatest number of companies listed on the NASDAQ. He also pointed to his own life experience, in which importing goods from abroad was once prohibitive due to high tariffs which have now essentially been removed.

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