OECD Secretary-General Meets with Israeli Treasury Leaders

Today, a meeting was held at the Treasury Department led by the Minister of Finance, Bezalel Smotrich, and attended by the department's management and the Secretary-General of the OECD, Mathias Cormann, in anticipation of the presentation of the biennial report on the Israeli economy. The meeting was attended by the Director-General of the Treasury Department, Ilan Rom, the Chief Economist, Dr. Shmuel Abramzon, the Budget Commissioner, Yogev Gardos, and other senior officials.

The biennial report positively notes the resilience of the Israeli economy, which has demonstrated resistance to economic shocks, including the effects of the terrorist attack on October 7 and the subsequent war. This is thanks to stable fiscal opening data, responsible monetary management, and high employment rates.

Looking to the future, OECD economists estimate that economic growth in Israel is expected to rise and stand at 3.4% in 2025 and 5.5% in 2026. However, the organization emphasizes the need for balanced fiscal policy, given the increase in defense spending and the challenge of closing infrastructure gaps and preparing for demographic growth. Additionally, a recommendation is given to continue promoting structural reforms and liberalization in the product and service market.

Finance Minister Bezalel Smotrich said: 'The OECD report is a testament to the resilience of the Israeli economy and the hard work done in recent years. It presents us with significant challenges but also opportunities for growth and progress. We will continue to work in cooperation with the organization to ensure the stability of the economy and promote reforms that will benefit the citizens of Israel.'