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Gafni threatened to block the budget if the government and the Bank of Israel will not weaken the shekel

Chairman of the Finance Committee of the Knesset Moshe Gafni said during the Commission meeting that if the Bank of Israel and Ministry of Finance take urgent measures for the weakening of the shekel, it blocks part of the reforms, which the Finance Ministry plans to hold in the framework of the law on the state budget for the year 2019.

Gafni stressed that the financial Commission is gravely concerned about the sharp appreciation of the shekel against the dollar, greatly weakening the competitiveness of Israeli exporters and the tourism industry.

The Bank of Israel said that it resumed aggressive operations on the foreign exchange market in order to squeeze out the speculators.

The Ministry of Finance, in turn, argue that the strong shekel is evidence of a strong economy, and that the Finance Ministry adopts measures to help exporters cope with the situation.

Gafni threatened to block the budget if the government and the Bank of Israel will not weaken the shekel 30.01.2018

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