Israel has pushed back the creation of a sovereign wealth fund because tax revenue from natural gas has not yet hit the minimum needed to begin investing, and fund managers have not yet been chosen, Bank of Israel Deputy Governor Andrew Abir said on Tuesday.
Israel discovered huge deposits of natural gas in the east Mediterranean a decade ago and major production began in 2013.
The fund, aimed at staving off an overheated currency from the sudden explosion in national wealth - known as the Dutch disease - was supposed to begin in 2018, but political turmoil and a slower stream of revenue have caused delays.