JERUSALEM – Israeli Prime Minister Naftali Bennett told visiting Secretary-General of the Organization for Economic Cooperation and Development (OECD) Mathias Cormann that Israel's economy is "solid" and "on the right route."
Despite the fact that the Covid-19 pandemic has had a negative impact on the Israeli economy, the country has had "amazing growth of about 7%," said Bennett, who spoke at the start of a special cabinet meeting attended by Cormann. Although the country is still recuperating from the fifth wave of the pandemic, which was headed by the ultra-infectious Omicron variant, Bennett stated that "the economy is on track."
He credited the country's high development rates to the government's decision to keep the economy open throughout the fourth and fifth waves of Covid-19 while combatting the virus with mass vaccination programmes and the social separation protocol.
"Through our high-growth 'open Israel' strategy, we have been able to raise soldier salaries, care for the elderly, and reduce tax burdens on working families," he stated. He also stated that the country's hi-tech sector is the economy's "primary and foremost" growth engine.
Meanwhile, the Abraham Accords, a group of accords reached in 2020 to normalise relations between Israel and various Arab countries, have had a huge impact on the Israeli economy, he added, and have served as a new engine for the country's economy.
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