Israel poverty high despite strong economy
12/8/2013 4:45:21 PM
The Organization for Economic Cooperation and Development said Sunday that while Israel enjoys rapid economic growth and low unemployment it has the worst poverty of the group's 35 member states.
"Israel's output growth remains relatively strong, unemployment is at historically low levels, its high-tech sector continues to attract international admiration, and new offshore gas fields have come on stream," the OECD said in its 2013 Israel Economic Survey.
"However, average living standards remain well below those of top-ranking OECD countries, the rate of relative poverty is the highest in the OECD area and there are ongoing environmental challenges," it said.
The 111-page report was presented Sunday by Israeli Finance Minister Yair Lapid and OECD Secretary-General Angel Gurria.
"Israel's output growth remains relatively strong, unemployment is at historically low levels, its high-tech sector continues to attract international admiration, and new offshore gas fields have come on stream," the OECD said in its 2013 Israel Economic Survey.
"However, average living standards remain well below those of top-ranking OECD countries, the rate of relative poverty is the highest in the OECD area and there are ongoing environmental challenges," it said.
The 111-page report was presented Sunday by Israeli Finance Minister Yair Lapid and OECD Secretary-General Angel Gurria.