Israel set for $28 billion infrastructure spending boost

 

Israeli Prime Minister Benjamin Netanyahu attends a weekly cabinet meeting in Jerusalem, September 3, 2017. REUTERS/Abir Sultan/Pool

 

JERUSALEM (Reuters) - Israeli Prime Minister Benjamin Netanyahu said on Sunday his office would soon publish a multi-year infrastructure spending plan worth more than 100 billion shekel ($28 billion).

 

Speaking at the start of Israel's weekly cabinet meeting, Netanyahu said the planned projects would include private sector investment.

 

Bank of Governor Karnit Flug told the meeting that improving public transport infrastructure would be one area of investment.

 

"The level of infrastructure in Israel is insufficient, particularly in the area of public transportation, and mainly in the major cities, but also in the electricity delivery system and in communication infrastructure," Flug told ministers.

 

"The volume of annual investment is low by international comparison, and we are therefore not closing the gap in the level of infrastructure compared to other advanced economies, which weighs down productivity and the growth potential of the economy."

 

Flug said the government should set up a special unit to specialise in the management and monitoring of public-private partnership (PPP) tenders and contracts.

 

"It is important that an informed estimation of the costs be made, and that the budgetary sources be defined, in order to avoid stopping projects and sharp cutbacks in projects as has happened in the past at times of budgetary stress," she said.

 

($1 = 3.5705 shekels)

 

(Reporting by Steven Scheer; Editing by Susan Fenton)

 

-- © Copyright Reuters 2017-09-04

Money from the US?  I have heard that the US gives $3 Billion a year to Israel. I don't know if it is accurate or true. But if so, I wish we would stop helping them while they continue to steal land from Palestine. 

21 minutes ago, chivo said:

Money from the US?  I have heard that the US gives $3 Billion a year to Israel. I don't know if it is accurate or true. But if so, I wish we would stop helping them while they continue to steal land from Palestine. 

http://www.jewishvirtuallibrary.org/total-u-s-foreign-aid-to-israel-1949-present

10 hours ago, Srikcir said:

http://www.jewishvirtuallibrary.org/total-u-s-foreign-aid-to-israel-1949-present

Almost 130 Billion since 1949.  80 Billion of that in Military aid and yes it's about 3 billion a year in recent years.  Interesting link. Way too much money on weapons for one rather small country with nuclear weapons when it could be going to refugees the world over who really need it.