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Israeli central bank chief presents rescue plan

Israeli central bank chief presents rescue plan

Israel's central bank chief has proposed a billion-dollar stimulus plan that he hopes will rescue the country from the global economic crisis and save thousands of jobs.
The Bank of Israel's governor, Stanley Fischer, released his plan in Jerusalem Tuesday. He says he wants to channel money to help boost exports, support key industries and expand unemployment benefits.
Israel's export-oriented economy has been hit hard by the global economic crisis. Most industries, including the key high-tech sector, have experienced layoffs and unemployment has risen in recent months to 6.3 percent.
The plan must still be approved by Israel's government.


Updated : 2020-12-04 14:07 GMT+08:00