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January 13, 2016 3:35 pm

Israeli Debt Burden Falls, High-Tech Profits Increase

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A 50-shekel note. Photo: Bank of Israel.

A 50-shekel note. Photo: Bank of Israel.

JNS.org – Israel’s Finance Ministry on Tuesday estimated that the Jewish state’s debt burden dropped from 66.75 percent in 2014 to 64.9 percent in 2015.

“This is an achievement for the Israeli economy,” said Israeli Finance Minister Moshe Kahlon. “Decreasing tax burdens and interest payments will allow us to increase budgets for education, health, welfare, and security.”

Meanwhile, Israeli high-tech companies generated $9.02 billion in profits from 104 exits last year, according to figures released Wednesday by the IVC Research Center and the Meitar Liquornik Gev Leshem Tal law firm. Although the number of exits decreased by 10 percent compared to 2014, total profit from the exits rose 16 percent last year, with the average exit deal in 2015 amounting to $87 million.

A successful exit occurs when a firm goes public or is acquired by another firm.

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