Steinitz Undecided on 2-year Budget

Finance Minister Yuval Steinitz tell Israel Bar Association conference: 'I will decide in the next few weeks.'

Finance Minister Yuval Steinitz said on Monday that he has not yet made up his mind whether to present a two-year budget for 2013-2014, or make due with a single-year budget next year and a two-year one for 2014-2015. "I will decide in the next few weeks," he said on Monday in a speech at the Israel Bar Association conference in Eilat.

"The atmosphere created in the past year, as an effect of the social protests, is anti-entrepreneurial and against the CEOs of large corporations," said Steinitz. The effects of the social protests will harm investment and "our [economic] growth is based on growth in investment, and therefore it is critical."

A modern economy is impossible without investors and managers, he added. But he did say that excessive economic concentration and a lack of competition is problematic, and announced that the recommendations of the committee on increasing competition would be presented to the Knesset within the next few weeks.