Gov't tabs NIS 100m to help exporters
The government last night reached an agreement to help exporters suffering from the weakness of the dollar.
The government last night reached an agreement to help exporters suffering from the weakness of the dollar. The agreement was reached yesterday by officials of the Ministry of Finance, the Ministry of Industry and Trade, and representatives of the Manufacturers Association.
The assistance, loosely finalized after a discussion last night, will be based on a government resolution dating from November, to help exporters as the greenback weakened against the shekel, rendering Israeli exports uncompetitive abroad. The Knesset Finance Committee threatened last month to take legislative steps to help exporters, unless the government put together an aid package itself.
The treasury says it will be earmarking tens of millions of shekels to help promote exports, but sources near the manufacturers claim the sum is about NIS 100 million.
The government will also guarantee bank loans with special "sweetheart" terms to export companies. Industry sources believe the banks will be operating via a joint fund with half a billion shekels or more to lend. Further details about the fund will be finalized further down the line.
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