At a press conference, central bank Governor Amir Yaron urged Israeli Prime Minister Benjamin Netanyahu to rapidly curb public spending before the market could react badly if the government failed to do so.
Yaron's statement comes following the bank's decision to decrease its interest rate from 4.75% to 4.5% - the first reduction since 2020.
“Not acting now to adjust the budget via cuts in expenditures, removing redundant ministries and increasing revenues in view of the needs of the war is likely to cost the economy much more in the future,” Yaron said.
AzVision.az
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