Bank of Israel urges government to keep its fiscal discipline
Central bank warns exceeding deficit target could hurt fiscal credibility
The Bank of Israel (BoI), which cut its benchmark interest rate to a record 0.25% this week, has criticised the government over plans to increase spending in 2015, arguing it is jeopardising the credibility of a long-term commitment to cut public debt.
The Israeli government has pledged to cut sovereign debt to 60% of GDP by 2020, but an economic slowdown looks set to push next year's budget above its 2.5% deficit target.
Meanwhile, the scrapping of a value-added tax on new homes is expected to
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