Tyrah : failure to pass first budget reading will adversely affect the economy

The state budget for 2005 failed to pass first reading at the Knesset last week.
 
69 Knesset members voted in favor of the budget, and 43 voted against. The vote forced Prime Minister Ariel Sharon to resubmit both budget bills, and to carry out changes in the composition of the government to rebuild the coalition.
 
Mr. Oded Tyrah, president of the Israeli manufacturers association said following the vote that the failure to pass the budget bill will lead to general election and to an era of uncertainty and freeze in new investments.
 
Tyrah added that the present Knesset was acting irresponsibly and harm the country trade and commerce. Tyrah noted that the crisis will add 25,000 new unemployed workers as well as loss of 1% in the GNP.