Consul General Sidenote 19/2/2016

Israel’s Economy Receives Accolades in OECD Report

  • 2/19/2016
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    “Thanks to prudent monetary, financial and fiscal policies, growth has exceeded most other OECD countries’ rates for more than a decade. Employment is rising, inflation is low, the external surplus is comfortable, and the public finances are in relatively good shape.” This quote comes from the latest annual Economic Survey of Israel by the Organization for Economic Co-operation and Development (OECD), presented two weeks ago to the Israeli Prime Minister by the organization’s Secretary General, Ángel Gurría.  
    The OECD is an exclusive organization of the world’s leading economies and it sets important standards for the proper and advanced operations of those economies. The release of the Israel survey coincided with the fifth anniversary of Israel’s entry into the organization.
    There are still many socio-economic challenges facing Israel, which are also mentioned in the OECD report, including the need to increase productivity and decrease poverty. Israel is committed to meeting those challenges.
    Notwithstanding those challenges, Israel’s stable and positive economic ecosystem can almost be seen as a mirror image of the geo-political volatility we see all over the Middle East. With that in mind, and in light of today’s global economic environment, in which so many countries are potentially facing a recession, it is highly encouraging to have the stability and strength of Israel’s economy and its overall positive economic trajectory acknowledged by one of the most reputable economic organizations out there