Xinhua
26 Jan 2023, 05:44 GMT+10
JERUSALEM, Jan. 25 (Xinhua) -- Israeli Prime Minister Benjamin Netanyahu on Wednesday rejected senior economists' warnings about the impact of his government's controversial plan to overhaul the judiciary.
In a press conference broadcast on Israel's main TV channels, Netanyahu said concerns about the planned judicial reforms' harm to the country's economy are "a tsunami of lies."
"Our steps to bolster democracy will not harm the economy," he said, adding the reforms will boost the economic growth.
Netanyahu, Israel's longest-serving prime minister, re-took office at the helm of Israel's most right-wing government in history in December last year. The judicial reforms, which are still in the legislative process, would increase the government's control over the appointment of judges and limit the Supreme Court's ability to overturn laws passed by the parliament or government decisions.
Earlier on Wednesday, some 270 Israeli economists, including a Nobel laureate, senior university professors and former senior directors of Israel's central bank, warned in an "emergency letter" that the judicial overhaul "will cause unprecedented damage to the Israeli economy."
It came a day after Amir Yaron, governor of the Bank of Israel, warned Netanyahu of the potential effects of the reforms and conveyed to him warnings made by senior executives from credit rating firms at the World Economic Forum in Davos last week.
Get a daily dose of Israel Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Israel Herald.
More InformationTOKYO, Japan: In light of a tense security environment following Russia's invasion of Ukraine and Moscow's growing military cooperation with ...
DALLAS, Texas: Oil and gas pipeline operators are preparing to stockpile equipment following severe weather forecasts for the next few ...
WASHINGTON D.C.: As US lawmakers investigate the Chinese-owned video-sharing app TikTok, its Chief Executive, Shou Zi Chew, has confirmed that ...
TEHRAN, Iran: A gunman this week stormed the Azerbaijan Embassy in the Iranian capital, Tehran, and killed its security chief ...
WASHINGTON, DC - FBI agents on Wednesday searched for classified documents at U.S. President Joe Biden's vacation retreat in the ...
WASHINGTON D.C.: The White House said this week that Tesla Chief Executive Elon Musk met with John Podesta, a Democratic ...
TOKYO, Japan: Toyota has announced that it sold 10.5 million vehicles in 2022, maintaining its position as the world's top-selling ...
NEW YORK, New York - Technology stocks had a hay day Thursday with Facebook parent Meta rocketing up nearly 30 ...
FRANKFURT, Germany: Data released this week showed that the German economy unexpectedly shrank in the fourth quarter of 2022, indicating ...
TOKYO, Japan: In a statement posted on the website of the Chinese Embassy in Tokyo, Beijing announced that it will ...
NEW YORK, New York - The U.S. dollar crumbled on Thursday after first posting gains. The late afternoon sell off ...
NEW YORK, New York - Wall Street dove into the red Wednesday after the U.S. Federal Reserve Open Market Committee ...