Professors for a Strong Israel

Statement to the Press - 2 December 1998

Re: In favor of correct economics

During the last two years, the government of Israel, under the leadership of PM Netanyahu, Finance Ministers Meridor and Ne'eman, and Professor Frenkel, Governor of Bank of Israel, have taken courageous steps to cure the Israeli economy. A strong economy is a precondition for lasting security and welfare. This policy already has some important achievements: considerable reductions of the deficits in the government budget and in foreign trade, a lower inflation rate, and positive structural changes in the domestic economy. These achievements are essential for continued economic development.

(The unusual rise in the cost-of-living index during the last two months was due to the international crisis, and therefore it is not an indication of a change in this trend.)

The would-be appointment of Mr. David Levy as Finance Minister jeopardizes these achievements, for which a considerable price has been paid. "Elections economics" is certainly not the economic policy that Israel needs today. Professors for a Strong Israel urges the Prime Minister to assure the people of Israel that he is determined to continue the current economic policy with Professors Ne'eman and Frenkel.

Prof. Yossef Rabani
Chairman of PSI's Economics Committee

Dr. Ron Breiman, Spokesman
Tel: 050-518940
Pager: 03-610 6666 / 28345