Flug warns Israel is falling behind in productivity race
Governor suggests range of policy actions
Israel needs to do more to boost productivity if it is to avoid falling behind its peers, Karnit Flug, the governor of the Bank of Israel, said in a speech on November 21.
While Israel has been narrowing the gap in growth terms between it and other members of the Organisation for Economic Cooperation and Development (OECD), Flug said the productivity gap remains wide and in some cases – such as with the US – is getting wider.
Flug pointed to low levels of capital per employee, declining research
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