BolshevikHunter
Rookie
- Banned
- #101
"Israel is not economically self-sufficient, and relies on foreign assistance and borrowing to maintain its economy.
Ignorant statement. Israel is a $200 billion ecovomy, one of the wealthiest countries based on per capita income and one of the fastest-growing economies based on GDP.
Thus, you're an ass.
Actually....you're an ass as well..or maybe a laughable banty rooster. The economic truth lies somewhere between the two extremes.
I'm not sure if Israel is one of the "wealthiest countries based on per capita income" .... according to the CIA Factbook, Israel ranks 48 in GDP--per capita....even if you just look at the Middle East...Qatar, Kuwait, UAE and Bahrain rank higher than Israel.
Israel DOES have one of the highest average living standards in the Middle East, HOWEVER - a large portion of the population, mostly Palestinians and immigrants, do not benefit from that wealth. The cost of living in Israel is very high, and for many wages barely meet basic living expenses. A large portion of the population lives under very modest conditions, often with aid from the government.
According to the CIA Factbook:
Israel has a technologically advanced market economy. It depends on imports of crude oil, grains, raw materials, and military equipment. Despite limited natural resources, Israel has intensively developed its agricultural and industrial sectors over the past 20 years. Cut diamonds, high-technology equipment, and agricultural products (fruits and vegetables) are the leading exports.
Israel usually posts sizable trade deficits, which are covered by large transfer payments from abroad and by foreign loans. Roughly half of the government's external debt is owed to the US, its major source of economic and military aid. Israel's GDP, after contracting slightly in 2001 and 2002 due to the Palestinian conflict and troubles in the high-technology sector, grew about 5% per year from 2003-07. The global financial crisis of 2008-09 spurred a brief recession in Israel, but the country entered the crisis with solid fundamentals - following years of prudent fiscal policy and a series of liberalizing reforms - and a resilient banking sector, and the economy has rebounded quickly. Following GDP growth of 4% in 2008, Israel's GDP contracted 0.3% in 2009 but is expected to expand in 2010. The global economic downturn affected Israel's economy primarily through reduced demand for Israel's exports - which account for about 45% of the country's GDP - in the United States and EU, Israel's top trading partners.
The idiot marc39, which is his perverted online name, is a mentally deranged nutcase. This creature is a baby raper who should be put out of his misery by the State in order to protect all of our children. ~BH
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