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Wednesday, November 21, 2012
Israeli economy displays maturity and stability in crisis

Israeli economy displays maturity and stability in crisis
20 Nov 2012
Minister of Finance Dr. Yuval Steinitz: "The Israeli economy has displayed
maturity and stability in previous security crises. I am convinced that the
economy will survive the present crisis as well."
(Communicated by the Ministry of Finance)

Minister of Finance Dr. Yuval Steinitz and Governor of the Bank of Israel,
Prof. Stanley Fisher met this morning at the office of the Minister of
Finance in Jerusalem and discussed the performance of the economy in the
shadow of "Operation Pillar of Defense" and its implications. Director
General of the Ministry of Finance Doron Cohen, Head of Economics and State
Revenues at the Ministry of Finance Dr. Michael Sarel and Assistant Governor
of the Bank of Israel Dr. Karnit Flug also participated in the meeting.

The Minister of Finance and the Governor agreed that for the time being, the
markets appear to be performing properly. Foreign and local investors
recognize the ability of the Israeli economy to emerge from security crises
of various scopes without any significant harm. Experience from similar
incidents in the past shows that the economy resumes full operation and,
within the medium range, even compensates for damage that was incurred from
these incidents in the short range. The Minister of Finance and the Governor
stressed the importance of constantly monitoring developments.

Minister of Finance Dr. Yuval Steinitz: "The Israeli economy has displayed
maturity and stability in previous security crises. I am convinced that the
economy will survive the present crisis as well."

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