Prime Minister Binyamin Netanyahu 311.
(photo credit: Moshe Milner/GPO)
Prime Minister Binyamin Netanyahu on Monday discussed plans to lower the
cost of living in Israel, promising "less concentration and more
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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.
said that he had commissioned the report more than 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.
He promised "fair competition" that would not hurt business owners who create jobs and lead the economy.
Netanyahu stated that the committee's final report would be issued in three months and passed on to the Knesset.
"The committee did thorough and professional work in both studying the
subject and giving real solutions. The committee's conclusions will
lead to substantive changes in the Israeli economy and to the
cancellation of the situation that has prevailed for decades, of
involvement and major control by a few groups," Netanyahu stated. He also thanked Finance Ministry Director-General Haim Shani, who chaired the
committee, outgoing Prime Minister's Office Director-General Eyal Gabai
and all the other members of the committee.
"These steps, along with those of the special committee that I
appointed, chaired by Prof. Manuel Trajtenberg, will lead to a genuine
revolution in the Israeli economy in favor of the consumer who is
groaning under the illogical cost-of-living," he added.
the prime minister ordered the committee to speed up their work amid
cost of living protests, saying the country's priorities were changing.