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Netanyahu: Israel Could Become Top 10 Global Economy

Israeli Prime Minister touts government's actions and highlights country's potential as a rising economic force.

Israeli Prime Minister Benjamin Netanyahu said on Wednesday that his governments’ actions have made Israel a rising global force, and that it could become one of the world’s 10 leading economies

Speaking at a Finance Ministry event to mark 20 years since the implementation of Israel’s 2003 economic plan, which he led as finance minister, Netanyahu said, “There was no credit market here. It was crazy, and we still have problems with this. The Finance Minister and I are discussing these questions, how to create additional sources of credit.”Israel, he continued, now has a “knowledge-intensive” economy.

“We now receive 20% of the start-ups in AI and a slightly larger number in cybernetics. The United States is in first place, we are in second, and we are 1/1,000 of the world’s population,” he said.The Jewish state, he said, could “easily” become one the world’s 10 leading economies.

TEL AVIV, ISRAEL – JUNE 01: A man wearing an Israeli flag walks on the street in the evening on June 01, 2023 in Tel Aviv, Israel. Despite the recent IDF operation ‘Shield and Arrow’ against Palestinian militants in Gaza, as well as the ongoing Judicial reform issues with the Netanyahu Government, tourism continues to grow. In January, Israel’s Ministry of Tourism announced that over 2.67 million foreign tourists entered the country in 2022.PHOTO BY ALEXI ROSENFELD/GETTY IMAGES 

“Israel’s status as an economic asset to the United States and Western countries is rising all the time,” he added. “While it depends on various developments, its basis is to polish the economy and make it stronger and more competitive. Your mission is to ensure the future of Israel.”

After a terrible recession in 2002 and a devaluation of the shekel against the U.S. dollar that saw it fall to an all-time low, in 2003 Israel’s economy rebounded and in 2004 the country had a growth in GDP of 4.8%.

Produced in association with Jewish News Syndicate

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