Bank of Israel ranks No.1 on pay increases

For the fourth year in a row the Bank of Israel topped a list of government bodies with overpaid employees, according to the Finance Ministry's Wage Report for 2002.

Thirty-four of the bank's 800 staff received raises of 7.5 percent or more in 2002, earning the Bank the distinction of violating the civil service codes, which state that government employees may not get raises exceeding 5 percent in any year.

In 2001, "only" 27 central bank employees received excessive salaries.

The treasury and t