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Gap Between Israeli Rich and Poor Widens

The gap between the rich and poor in Israel has substantially widened, as for most countries that are members of the Organization for Economic Cooperation and Development , according to a new report published on Monday.

The study published by the OECD – Divided We Stand: Why Inequality Keeps Rising – said that inequality was rising in most OECD member countries.

OECD Secretary General Angel Gurria with Prime Minister Benjamin Netanyahu in Jerusalem in January.

Photo by: Reuters

Moreover, the annual average income of the top 10 percent of developed countries was 9 times higher than that of the bottom 10 percent. In Israel, however, the ratio is 14 to 1, similarly to the U.S. and Turkey.

The annual growth in income of the top 10 percent in Israel since the mid-1980s was 2.4%, while the bottom 10 percent fell by 1.1%.

For more, go to Haaretz.com

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