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Israel Finance Minister Dr. Yuval Steinitz on the country’s economic growth and encouraging corporate investment in the country.
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Browse all right let's change gears a little bit Israeli finance minister -- -- -- -- meeting with US Treasury Secretary Timothy Geithner today.
Pressing Washington on Iran and discussing US and Israel's economic relationship -- we're very lucky to up to you about.
-- itself Israel's minister of finance joining us now in the first on fox Christmas.
Thank you so much for being here we really appreciate it.
I want to get into the economy but first a one off skewed.
About -- meeting with us secretary Geithner how the -- -- what was slow the key issue that was discussed.
But it was very -- meeting and it was my own accidental Putin people need to think think that the indictment.
Police -- -- corporation is a State of Israel.
Mean you want to we -- one will be a it's a very important hints -- -- can say is that let's -- -- -- -- -- And secondly is that in -- in the warm opium of the Persian yes and type that means -- sanctions and economic sanctions will be done.
Both sides have something effective maybe as a little sufficient -- -- But -- is a beacon fitting -- -- fifty.
Are you concerned with regard to the sanctions on Iran -- that the president's.
Nomination.
Chuck legal.
-- -- Defense Secretary he has spoken out against sanctions on Iran.
Com and on Israel and in previous speeches are you concerned about -- and his appointment to -- makes it through the nomination process this is an easy question.
Because guns and is -- -- -- looking -- -- of course is of them caught we'll see Joseph's the United States.
Is they would inspect any decision -- the president and the congress.
Exactly by the way as we expect -- flames smoke who.
Entitled to respect -- is that he's out of things -- -- democratic institutions very good and very diplomatic let me -- can we bring in analysts claim because I know -- wanted to speak to you.
Very much -- into Las Vegas at the Consumer Electronics Show -- take it away.
Minister -- -- -- -- -- thank you for joining us you know there are a lot of Israeli companies here.
High technology companies that Israel as a very fertile area for the -- -- -- -- out there.
That's why you see companies like Yahoo!.
And Intel and Microsoft an Advanced Micro Devices -- they also went there they set up shop because Israel is an opportunity however.
You know even Ehud Barack has spoken about how inflation is so unbelievably high there the taxes are very high obviously you have an important military that needs to be funded but.
What are you going to do -- finance minister really make it up up up better and more conducive atmosphere for the entrepreneur in Israel.
No offense they must -- the updated inflation last year was one point full Wilson.
This was -- index.
I think that they don't think it's it's.
And C Teepen inflation -- -- and these.
As as mentioned before always live day's political enemies to going in there relatively -- Speed.
And then -- -- -- was mainly due and -- just mention it mainly due.
To -- my thinking -- investments and direct investment incident according -- Israel.
Since the beginning of 2000 -- -- Being diesel for investments in these lady called the moon was close to pull people -- -- -- meals.
And these help us to create many many new jokes.
And they have who overcomes -- global crisis but relatively good shape.
Steel that we will have to make some budget cuts and the next they have but did it would be tough.
Bear vehicle in the means going and there's really I -- emphasize.
Is to make is the moment more productive and give a lot of incentives.
-- new investments.
We stinks and he's an image is a global incentive hopeful technologies' -- and visit innovation.
Fully sentient developments.
In the leading woman local police station means that less who useful the United States -- And Intel embedded decency.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Many many new investments.
By train these companies.
That also open and I've been -- -- these gains a -- -- Well.
And that that's hugely hugely -- -- what you brought that up the Chinese opportunities coming into Israel how much is that helping your economy we should point out.
The -- attraction at least what I hear from a lot of US CEOs -- why they go to Israel was because of a very motivated workforce is that at the forefront of what the Chinese are thinking as well.
I think so but risk to other things that we have bit equal human cup so as you mentioned that you create the vehicle scientists engineers.
But we give also -- he many incentives we came out Wednesday.
Fifty jitterbug Clinton just -- -- go.
How to enhance and the pool mosaic future developments of the Israeli high tech industry is -- the next twenty yields.
And -- -- going went to try not -- was they shouldn't these -- finance minister and was significant Qaeda and is this.
And they convince them to give it.
Event he could -- -- and light and -- clear announcement.
And cut a teaching these companies.
To couldn't see it live and thousands and acuity to considered investments in music -- And bid that is that was that we so.
Pacific -- significant chimneys.
Investments in Israel.
I think in the last two years proposals is that -- -- from China.
-- they think he's in -- we've had some compensation.
Because over X book you will right is that -- they're going down a little bit because of the deepening we'll see you will be in crisis.
Now minister you know Israel managed to essentially skirt -- global financial crisis and growth from 2009 to 2012 of the overall economy and came in at some left fourteen point 7% which is very impressive.
But it is showing signs of slowing down what are you trying to do to contract that.
First -- we we've we've had slowing down into -- -- twelfth needlessly puts peoples and acquittal because it's viewed by the -- the fastest -- it with them well but debt listen before the with a two major reasons.
One is indicative of the price and you -- and so people since the phone it's what is going to -- -- and so we fit the slowing down in the united expo we will look.
And secondly that -- -- guys people's sons than twelfth the Gaza and Egypt and of the pipeline was.
-- once and again -- that was out of studying.
And days there was no cheap debt and they that's problems he's -- -- -- feeds.
And in discovered -- that -- and come -- and -- -- yes.
We -- I would -- stations on the need those cells and so people.
So -- do you.
We sell does -- -- to replace it -- very expensive.
Viewers right and ended volumes both these -- -- that's when government would be also because of they guzzle.
They lack of guys that fix from Egypt it for me Egypt and now we live in in few months -- -- have guys.
Will -- easily be discovered humans in the that the nebulous.
Well -- -- -- it's an Israeli minister of finance thank you so much for being here fascinating stuff we really appreciate it vision to be here thank you.
