Ormat CEO Bronicki at conference Photo: Shaul Golan
Economic debate: 35% of Israeli population 'unproductive'
Presidential conference sparks debate among economists as to Israel's future GDP. CEO of Ormat Industries: Young entrepreneurs' impatience preventing Israel from succeeding as it should
"The impatience of our young entrepreneurs, who hurry to make their exit rather than developing their businesses properly, is preventing the State from succeeding as it should," CEO of Ormat Industries Yehudit "Dita" Bronicki said during President Shimon Peres' 'Facing
Tomorrow' Conference. Ormat is a global leader of geothermic energy production.
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She added that "the global economy does not obligate us to flee Israel. It is possible to establish international companies and manage them from here."
Bronicki was speaking before senior businessmen who participated in the conference, in answer to the question of whether Israeli GDP could be raised to the level of the most developed countries.
Sir Ronald Cohen, chairman of the Portland Trust, which encourages economic cooperation between Israel and the Palestinians, said that the GDP was not likely to go up as long as 35% of the population remained "unproductive", referring to Haredim and the Arab population.
Avia Spivak, former deputy governor of the Bank of Israel, warned that "the incorporation of Haredim and Arabs into the workplace, without previously training them or investing in them, will only lower the GDP."
Chairman of the Board of Teva Pharmaceuticals Eli Hurvitz added that "the advancement of the economy must be based on the traditional ethics of the Jewish people, which combines studiousness with excellence, together with a vision and defined goals. The educational objective should be to bring at least 75% of the younger generation to the universities."
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