Brosh : Exports will rise this year by only 3.5%

Mr. Shraga Brosh President Manufacturers Association said last week thatIsrael's industrial exports would be only 3.5% higher this year than they were last year, at $25.5 billion.
 
In a statement issued by the Manufacturers Association Brosh noted that the low export growth was particularly disappointing given that global trade had increased by 6.6% this year.
 
Brosh noted that last year, industrial exports were up by 17.5%, and the Finance Ministry had forecast 8% growth for this year, while the Manufacturers Association had predicted 9.5% growth.
 
Brosh placed the blame partly on a worldwide slowdown in trade and partly on government policy for not providing enough funding to several export marketing programs.
 
Brosh made it clear that the government should put up an $88 million for export promotion budget in each of the next two years.
 
He claimed that such budget, would increase annual exports by over $2.1 billion, or about 8%, and create more than 30,000 new jobs.