Israel central bank chief says loose budget will help economic recovery

Bank of Israel Governor Amir Yaron said on Wednesday he supports an expansionary 2020-21 budget to help the economy recover from the coronavirus pandemic, which has forced businesses to close and unemployment to jump.

“As long as the economy is in a phase of contraction or even a phase of recovery, we don’t want to tighten belts in a way that prevents it from growing as fast as possible and exiting the crisis,” Yaron told an online economic conference three days after a new government was sworn in.