BREAKING NEWS

New industry chief: We need a finance minister now

JANUARY 14, 2015 20:06

Shraga Brosh, who returned to his former position as the President of the Israel Manufacturer's Association last week, called on Prime Minister Benjamin Netanyahu to install a finance minister before March's elections.

"We cannot have a situation where for five months there is won't be a full-time finance minister here," he said Wednesday in his first meeting with journalists since returning to the position.

During the meeting, Brosh lamented the state of Israeli manufacturing, and called on the government to jump start the economy by devoting a set amount of resources to capital investments.

Though the program would cost the state some NIS 5 billion a year through initiatives such as export supports, funding for small and medium businesses, and integrating Arab and ultra-Orthodox populations, Brosh said the cost would be well worth it.

In his estimation, the program would add .6% to economic growth in the first year, plus 17,000 new jobs, figures he argued would only increase over time.

Depending on how fast coalition negotiations go, Israel may not have a new finance minister in place until weeks after the March 17 election, depending on coalition negotiations.

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