Fischer Slaps Down Latest Lapid Proposal to Increase Deficit

The deficit target can't be more than 3% of GDP, insists central banker, though in practice spending will almost certainly be higher.

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Bank of Israel Governor Stanley Fischer has rejected a new attempt by Finance Minister Yair Lapid to increase the deficit target in 2013-2014 to 3.5% or the gross domestic product, or failing that, to 3.25% of...