Bank of Israel Chief: Peace Could Boost Economy
Bank of Israel Governor Stanley Fischer said Sunday that the country could expect an economic growth in the range of 7 percent should a peace agreement be signed with the Palestinians.
The difference would be evident in the amount Israel needs to invest in security, Fischer told delegates to the Herzliya Conference. The last five years has seen economic growth of up to 5 percent, said Fischer. “So with peace agreements and conditions, we could have a growth of more like 6 or 7 percent,” said Fischer.
National Security Adviser Uzi Arad told delegates to the conference earlier Sunday that the Palestinian Authority’s “policy of refusal” was to blamed for stalled peace negotiations.
Palestinian President Mahmoud Abbas was “once too strong, once too weak, once is waiting for elections, other times he’s moody, and at a different time he’s waiting for an Arab League conference,” Arad said.
“The reasons may change but the Palestinian policy of refusal continues, refusal to negotiate. It’s very disappointing,” said Arad, warning that such reluctance “will become a problem for the Palestinians.”
Nevertheless, Arad said such a stalemate could be overcome and negotiations may well resume.
Arad also lambasted Palestinian Prime Minister Salam Fayyad for supporting a boycott of Israeli products made in West Bank settlements. Fayyad is set to address the conference on Tuesday alongside Defense Minister Ehud Barak.
I hope you appreciated this article. Before you go, I’d like to ask you to please support the Forward’s award-winning journalism this Passover.
In this age of misinformation, our work is needed like never before. We report on the news that matters most to American Jews, driven by truth, not ideology.
At a time when newsrooms are closing or cutting back, the Forward has removed its paywall. That means for the first time in our 126-year history, Forward journalism is free to everyone, everywhere. With an ongoing war, rising antisemitism, and a flood of disinformation that may affect the upcoming election, we believe that free and open access to Jewish journalism is imperative.
Readers like you make it all possible. Right now, we’re in the middle of our Passover Pledge Drive and we still need 300 people to step up and make a gift to sustain our trustworthy, independent journalism.
Make a gift of any size and become a Forward member today. You’ll support our mission to tell the American Jewish story fully and fairly.
— Rachel Fishman Feddersen, Publisher and CEO
Join our mission to tell the Jewish story fully and fairly.
Only 300 more gifts needed by April 30