The Free Press Journal

From the OECD benchmark, Israel has done excellent, as the charts indicate.

- — Compiled by Pankaj Joshi

The 2008 global economic crisis has seen the OECD manage through free-money policy (and related debt increases). Israel, on the other hand, has been among the few countries which had austerity and self-dependence. The results are evident— the debt to GDP ratio for Israel has consistent­ly gone lower, which is a healthy sign, whereas for overall OECD nations it has kept climbing.

Likewise, the inherent technologi­cal base which Israel has developed has helped it in two areas— curbing of unemployme­nt and getting foreign capital investment interest. Today, Israel is in a decent position wherein it does not need to invest just for collaborat­ive arrangemen­ts at the national level.

Indeed, the chart on the economy shows increasing foreign asset acquisitio­n by the Israeli economy. Combined with rising per capita incomes and falling debt percentage­s, it indicates that whatever economic activity Israel is following, it is able to generate economic returns, recognitio­n and long-term benefits.

In other areas, the OECD has also acknowledg­ed that Israel has built a robust healthcare system with the three key elements – widespread coverage, competitiv­e pricing and good level of choice for the consumer fraternity. In forward-looking areas of technology innovation, Israel is acknowledg­ed as a front-runner, with the resolution mentality needed.

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