Bank of Israel urges government to keep its fiscal discipline


The Bank of Israel (BoI), which cut its benchmark interest rate to a record 0.25% this week, has criticised the government over plans to increase spending in 2015, arguing it is jeopardising the credibility of a long-term commitment to cut public debt.

The Israeli government has pledged to cut sovereign debt to 60% of GDP by 2020, but an economic slowdown looks set to push next year's budget above its 2.5% deficit target.

Meanwhile, the scrapping of a value-added tax on new homes is expected to

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