The head of the Organization for Economic Cooperation and Development (OECD) told Israeli ministers on Sunday that the Jewish state should focus on narrowing socioeconomic gaps, boosting competitiveness, and increasing the productivity of its economy.
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Mathias Cormann, secretary-general of the 38-member OECD, was in Israel on his first visit to the country as head of the organization.
He attended the weekly cabinet meeting headed by Prime Minister Naftali Bennett to discuss the economy, tax reforms and the impact of the COVID pandemic.
Cormann praised Israel's economic growth over the past decades "as a result of structural reforms [and] effective macroeconomic management," its high-performing technology industry, as well as its skillful management of the last two waves of the pandemic.
"Israel's successful management of COVID was one of the most advanced and flexible in the world, allowing the economy to remain fully open during the fourth and fifth waves; the country has been an inspiration to others," he said.
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The OECD further reported that Israel's economy rebounded strongly in 2021, with an estimated 6.3% growth, driven by the technology sector, and expects further growth in 2022.
Cormann said the OECD expects "Israel's robust economic recovery to continue for this year and next."
i24NEWS contributed to this report.
