Ono Professor Discusses How Israel Deals With Inflation Epidemic
In a period when inflation has rocked economies all over the world, and financial crises appear to be on the horizon, Israel’s Ministry of Finance is preparing new measures to deal with the state of affairs.
Prof. Yaron Zelekha, President of Ono Academic College’s Higher Academic Council and Director of Accountancy Studies was asked if someone in the Ministry has lost control of the situation. Zelekha was interviewed by on “The Method” program, broadcast on the “Israel Waves” radio station.
Prof. Zelekha noted the steeply rising consumer price index and housing price index. He said these results are caused by a faulty economic policy. The governments decision to raise taxes during this period, and in particular, taxes on consumption, exacerbated the phenomenon of rising prices. This measure was enacted in few places around the world other than Israel.
In the course of the interview, Prof. Zelekha listed other errors made by the government and how the situation could have and could still be handled differently.
To listen to the entire interview click here:
