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Israel set for 100 billion shekel infrastructure boost
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Israel set for 100 billion shekel infrastructure boost

Israeli Prime Minister Binyamin Netanyahu said on Sunday his office would soon publish a multi-year infrastructure spending plan worth more than 100 billion shekel.

Speaking at the start of Israel’s weekly cabinet meeting, Netanyahu said the planned projects would include private sector investment.

Bank of Governor Karnit Flug told the meeting that improving public transport infrastructure would be one area of investment.

“The level of infrastructure in Israel is insufficient, particularly in the area of public transportation, and mainly in the major cities, but also in the electricity delivery system and in communication infrastructure,” Flug told ministers.

“The volume of annual investment is low by international comparison, and we are therefore not closing the gap in the level of infrastructure compared to other advanced economies, which weighs down productivity and the growth potential of the economy.”

Click here to read the full article in Reuters

Friday, September 08, 2017
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