Israeli Prime Minister Benjamin Netanyahu, under pressure to reduce living costs, has targeted the country's monopolies and said the government would continue reforms that would lead to lower prices. At Sunday's cabinet meeting, Netanyahu called on his ministers to bring reforms that would boost competition, improve services, increase efficiencies and help to lower prices of goods and services to similar levels as overseas.
"The main reason for the high cost of living in Israel is monopolies and cartels that prevent competition and prevent lowering prices," Netanyahu said. In a January election, upstart politician Yair Lapid rode a wave of discontent over high living costs to a significant victory, in which his Yesh Atid party became the second-largest faction in parliament.
Lapid was named finance minister and Netanyahu has backed more free market reforms, which Netanyahu himself started when he was finance minister from 2003 to 2005. "We are committed to lowering the cost of living in Israel," Netanyahu said. "Reforms will be in the air, sea, land and in all fields." The cabinet last week approved an open skies aviation deal with Europe despite a two-day strike by Israeli airline workers while Netanyahu has said threats of strikes will not deter the government from economic reforms.
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