Governor of the Bank of Israel Dr. Karnit Flug spoke at Beit Issie Shapiro in Ra’anana. 
“I am very pleased to be here this evening to express my appreciation for the important contribution made by Beit Issie Shapiro to the integration of people with disabilities in the community.”
At the beginning of her remarks, the Governor discussed the recent developments concerning the fine imposed on Bank Leumi by the authorities in the United States: “The Banking Supervision Department is in the process of examining both the proper conduct of banking business aspects, and the personal responsibility of employees and officers.  The Banking Supervision Department is conducting a professional, comprehensive, and uncompromising examination, at the end of which an assessment will be made of what measures to take, both in relation to Bank Leumi and in relation to the banking system as a whole.”
The Governor reviewed macroeconomic developments in the economy, and discussed the main trends in economic growth, foreign trade, the labor market and areas of monetary policy.  As part of the review, the Governor discussed public social services, including the treatment of people with disabilities.  The Governor presented data that show that in addition to the fact that civilian public expenditure in Israel is low by international comparison, social expenditure (on healthcare, welfare and other such services) is also low, which has implications for the ability to provide these services at a high level.  In this context, the Governor noted the importance of meeting the deficit target for 2014.  However, underperformance in civilian expenditure, and particularly investment in infrastructure, is worrying.
Toward the end of her remarks, the Governor discussed the actions necessary to encourage inclusive and sustainable growth that integrates population groups with low participation rates while increasing their human capital and earning power and increasing productivity.