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Growth of Israel's Debt Is Kahlon’s Failure

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The Treasury’s accountant general just released some data that escaped public notice due to the media attention on Benny Gantz’s maiden speech and its aftermath. However, this was important data, emblematic more than anything else of the colossal failure of Finance Minister Moshe Kahlon and Prime Minister Benjamin Netanyahu, who bear joint responsibility for the stewardship of Israel’s economy.

After 33 years of a consistent policy, pursued by all of Israel’s finance ministers, aimed at reducing Israel’s public debt in relation to its GDP (beginning in 1985 with the plan to stem hyper-inflation), Kahlon came on the scene and changed direction. He’s raised the debt-to-GDP ratio to a dangerous level of 61.2 percent, with the numbers........

© Haaretz