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03.01.2011
 
Summary of address by the Governor of the Bank of Israel, Professor Stanley Fischer, to the Annual Event of the Israeli Forum of Chief Financial Officers (CFO)Reaction to the recommendations of the Sheshinski Committee
 
The Governor of the Bank of Israel spoke today at the annual event of the CFO Forum and gave his reaction to the recommendations of the Sheshinski Committee. The following is a summary of his address.
 
This evening the Sheshinski Committee on policy regarding Israel's oil and gas resources published its recommendations. I think the Committees recommendations strike a balance between the countrys needs and the risk and costs borne by the entrepreneurs. The recommendations give a place of honor to the activity of the entrepreneurs, who play an important part in the development of Israel's economy while incurring significant risks, and also considerably increase the countrys and its citizens share of its natural resources to the right level.
I would like to send greetings from here to the members of the Sheshinski Committee, and to the Minister of Finance who appointed the Committee, on the professional work they performed and on their efforts, and to express my regret over the irrelevant slurs they sustained in the course of their work.
I think that the Committees recommendations will greatly help the development of Israel's gas and oil market to the benefit of all Israel's citizens and future generations, and will provide an incentive to domestic and foreign entrepreneurs to operate in Israel.