Israel approves $4b privatisation plan for next three years

Israel's socioeconomic committee headed by Prime Minister Benjamin Netanyahu, approved a plan on Sunday to issue minority stakes of up to 49 percent in government companies on the Tel Aviv Stock Exchange over the next three years.

The plan is expected to bring in revenue of 15 billion shekels ($4.07 billion) over the next three years and reduce the national debt, Israel's Finance Ministry said on Sunday.

The move is also expected to develop and strengthen Israel's capital market, the ministry said.