Maoz. 'Advanced economy'
Maoz: Israel an economic superpower
Discount Directorate member says today's interest rate lowest since WWII, shekel has never been stronger
“Israel
is an economic superpower and we are stronger than we have ever been. We have an advanced economy that is stronger than what the public sees and feels,” Shlomo Maoz, a member of the Discount Directorate, said Tuesday at the International Business Development Conference, hosted by Dr. Alter & Co. Law Firm, Calcalist reported.
According to Maoz, “We got through the worst crisis in the world and the interest rate today is the lowest it has been since World War II, and the shekel has never been stronger. Throughout most of the world, the interest rate is low in order to encourage economic activity.
"In addition, there is a sharp increase in global commerce following the recovery plans implemented by many countries, including those that were in good shape.”
Maoz added that “one of Israel's most pressing problems is that of a rich person. Since 2003 Israel has had a surplus. Israel has undergone a revolution since 1985, expressed by the investment in military technology, absorption of knowledgeable technologically inclined Russian immigrants, grants given to research and development and inaugurating new colleges.
"All of these factors have led the government to reduce its deficit, and therefore interest rates are very low, and the public has access to the capital market.”
- Follow Ynetnews on Facebook
