Finance Minister Yuval Steinitz
צילום: דודי ועקנין
Government boosts aid to exporters
Finance Ministry seeks to maintain exporters' competitiveness as shekel continues to strengthen against dollar
Israel's Finance Ministry said on Sunday it had increased aid to exporters to maintain their competitiveness as the shekel continues to strengthen against the dollar.
The ministry said it would triple its aid to small businesses to NIS 90 million (about $24 million) over the next four years.
It also plans to allocate NIS 57 million ($15 million) for the development of industrial zones over next two years and increase its budget for the office that assists high-tech firms.
The shekel has appreciated more than 10% versus the dollar in recent months and stands at 3.73, an 11-month peak.
The Bank of Israel has tried to keep the shekel from gaining further by purchasing foreign currency from time to time in the open market.
Exports, nearly half of Israel's economic activity, have already been harmed by the sharp global downturn this year.
