Bank of Israel chief: Israel’s economy advanced


JERUSALEM (JTA) — International calls to boycott Israeli goods have not posed a real threat to the country’s economy, the Bank of Israel’s governor said.

Stanley Fischer also told the annual leadership conference of the Conference of Presidents of Major American Jewish Organizations Wednesday that Israel’s economy has weathered the global recession well.

Fischer told the American Jewish leaders that by international standards, Israel’s economy is relatively advanced.

He outlined challenges to the economy, including an inefficient government bureaucracy, demographic challenges such as the overwhelming poverty rates within the Orthodox Jewish and Arab populations, and the decline of educational standards.

"The Israeli economy, currently emerging out of the recession, will remain relatively safe, mainly owing to its entrepreneurial nature as a ‘start-up nation,’ " Fischer said.

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