Head of Manufacturers Association Calls for Interim Budget Through July 1

Shraga Brosh, the president of the Manufacturers Association of Israel, is pressuring Knesset faction and party heads to approve the state budget for an interim period of six months, through July 1.

Brosh claimed yesterday that failure to approve the budget for this period, he feared, "would cause the economy to be lost for six months, while budgets for implementing NIS 60 billion worth of projects won't be able to be utilized."

According to Brosh, it would delay dozens of industrial and infrastructure development projects, harm industrial and economic growth and result in the laying off tens of thousands of workers in various fields, from security companies to high-tech. "The result will be widening the social gaps - the opposite of determined economic growth," said Brosh.

Brosh also claimed that extended political uncertainty coupled with the failure to implement major projects would "cause a halt to investments in the economy, including research and development."