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‘Israel could easily be among world’s 10 top economies’

"Israel’s status as an economic asset to the United States and Western countries is rising all the time," said Israeli Prime Minister Benjamin Netanyahu.

Israeli Prime Minister Benjamin Netanyahu attends a Knesset debate, June 26, 2023. Photo by Yonatan Sindel/Flash90.
Israeli Prime Minister Benjamin Netanyahu attends a Knesset debate, June 26, 2023. Photo by Yonatan Sindel/Flash90.

Israeli Prime Minister Benjamin Netanyahu said on Wednesday that his governments’ actions have made Israel a rising global force, and that it could become one of the world’s 10 leading economies

Speaking at a Finance Ministry event to mark 20 years since the implementation of Israel’s 2003 economic plan, which he led as finance minister, Netanyahu said, “There was no credit market here. It was crazy, and we still have problems with this. The Finance Minister and I are discussing these questions, how to create additional sources of credit.”

Israel, he continued, now has a “knowledge-intensive” economy.

“We now receive 20% of the start-ups in AI and a slightly larger number in cybernetics. The United States is in first place, we are in second, and we are 1/1,000 of the world’s population,” he said.

The Jewish state, he said, could “easily” become one the world’s 10 leading economies.

“Israel’s status as an economic asset to the United States and Western countries is rising all the time,” he added. “While it depends on various developments, its basis is to polish the economy and make it stronger and more competitive. Your mission is to ensure the future of Israel.”

After a terrible recession in 2002 and a devaluation of the shekel against the U.S. dollar that saw it fall to an all-time low, in 2003 Israel’s economy rebounded and in 2004 the country had a growth in GDP of 4.8%.

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