Bank of Israel governor warns government over debt

Yaron calls for new committee to determine military budget

Bank of Israel
Photo: David Vaaknin

Bank of Israel governor Amir Yaron has warned Israeli lawmakers against excessive debt increases, implicitly criticising prime minister Benjamin Netanyahu’s plans.

Netanyahu has said his government will raise about $60 billion in debt for the war in Gaza and other military spending. But in a letter dated March 28 to cabinet ministers accompanying the central bank’s 2023 annual report, Yaron called for fiscal restraint.

Yaron said the government should prevent the debt-to-GDP ratio from rising as

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