Flug fears advanced economies will leave Israel behind
An ‘automatic pilot' policy will not help Israel to reduce gaps in GDP per capita and other economic indicators with other advanced economies, Bank of Israel governor Karnit Flug warned in a speech in Jerusalem on Monday.
Flug noted that in 2011, the gap between GDP per capita in Israel and the US was close to 50% and is expected to "remain more or less the same, as Israel is forecast to decline by four places" in OECD rankings. "A clearly troubling picture," she said.
"In the labor market, the
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