BREAKING NEWS

Fischer: Next gov't will have to cut NIS 15b.

By JPOST.COM STAFF

DECEMBER 10, 2012 11:31

The next government will have to cut NIS 15 billion from its budget, Bank of Israel governor Stanley Fischer said Monday.

"The next government will have a big budgetary problem. The Treasury declared that the debt will be 4.2%, and there will be a high deficit. It's known that it will have to cut 15 billion shekels from its expenditures, and it is possible they will have to raise taxes," he said.

Fisher also said the economy is slated to a grow at 3% next year, a healthy amount given ongoing economic crises in Europe and the United States.

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