Bank of Israel chief frowns on Lapid's plan to increase budget deficit target
Bank of Israel Governor tells new Finance Minister that raising the target past 3 percent of GDP was an economically unsound decision, even if the move was temporary.
Bank of Israel Governor Stanley Fischer and Finance Minister Yair Lapid reportedly clashed this week over the latter’s proposal to raise the 2013 budget deficit target from 3 percent to 4.2 percent of gross domestic product. Lapid also proposed raising the target for the 2014 budget from 2.75 percent to 3.5 percent of GDP.
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