PM boasts about economy amid Eurozone downgrades

Netanyahu says at cabinet meeting that Israel's fiscal responsibility stands out among nations.

January 15, 2012 15:39
2 minute read.
Prime Minister Binyamin Netanyahu [file]

Prime Minister Binyamin Netanyahu 311 (R). (photo credit: REUTERS/Uriel Sinai/Pool )


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Following a recent Standard & Poors downgrade of nine eurozone countries' credit ratings, Prime Minister Binyamin Netanyahu bragged that just four months ago Israel received an improved credit rating from the same company.

Speaking at the beginning of the weekly cabinet meeting on Sunday morning, Netanyahu stated that "the Israeli economy stands out, positively, as a result of our responsible policy.  We are not breaking the budgetary framework.  We are upholding the first rule in managing an economy, whether of a family, a firm or a country; over time, one does not spend more than what one brings in, than what one makes.  And if you did so, you make the correction gradually."

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Netanyahu gave as an example of his government's responsible fiscal policy the fact that he is funding his plan for free education for pre-school aged children and his plan to deal with illegal infiltrators from 4% contributions from other ministries' budgets.

He defended his plan to deal with infiltrators against criticism that it violated human rights  by detaining illegal immigrants for extended periods of time.

Netanyahu: 'Infiltrators are conquering Tel Aviv'

"Last week, a law was also passed that will allow illegal infiltrators to be detained for up to three years.  This is not to say that they must be held for this entire period.  However, it changes the existing reality in which an infiltrator is detained and released after two weeks – and he makes his way to Eilat or Tel Aviv or some place else."

The prime minister added: "This is a welcome and important change and it is necessary in order to maintain the character of the State of Israel, to ensure its future as a Jewish and democratic state."

Netanyahu emphasized that his plan targeted "illegal work infiltrators" and not refugees.

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