Dear Friends,  

The 17th Caesarea Forum was held last week in Eilat under the chairmanship of Dr. Yuval Steinitz, Israel's Minister of Finance, and with the participation of Prof. Stanley Fischer, Governor General of the Bank of Israel. The conference concluded with a televised prime-time speech by Prime Minister Benjamin Netanyahu. As in previous years, the conference convened the leadership of Israel's economy—both from business and from government—together with Israel's foremost economists in order glean common wisdom with regard to national economic policy on the eve of the budgetary deliberations in the Knesset. This year's conference was marked by two extraordinary circumstances: the imminent passage of a two-year budget for the State of Israel and, of course, the global financial crisis, which has had a profound effect on the Israeli economy. The conference was preceded by six months of preparation by four interdisciplinary research teams under the leadership of the Forum's Academic Director, Mr. David Brodet. 

These teams focused on four issues:  

1. The Requisite Size of the Government — Between Economy and Politics
2. The Future of Israel's Growth Engine: Returning to  Leadership of Hi-Tech Industries and Scientific-Technological Innovation
3. Regulation, the Financial System and Macro-Economic Policy — Insights from the Global Financial Crisis
4. Macro-Economic Policy in a Time of Financial Crisis

We invite you to view Mr. Brodet's presentation of the Forum's findings to Prime Minister Benjamin Netanyahu at the conclusion of the conference.

In addition to panel discussions on the conclusions of the research teams in these four areas, conference participants heard keynote speeches by the Prime Minister, the Minister of Finance, and the Governor of the Bank of Israel. To view these presentations, please click on the links above.

The media coverage of the Forum was exceptional. Below is a sample of articles that appeared in the English language media:

• Crisis is not yet behind us, Steinitz warns – The Jerusalem Post 7/2/09
• Economy’s turning point is just around the corner, says Fischer – The Jerusalem Post 7/3/09
• Netanyahu: Land, planning reforms to bring down housing prices – The Jerusalem Post 7/3/09
• Fischer predicts market growth, rise in unemployment – Ynet News 7/3/09

It was an honor for the Institute to once again host this unique gathering at such a critical juncture in the country's economic history. I would like to thank all those who participated, both in person and via the online webcast. For those of you who could not make it to Eilat this year, please visit our online gallery to view photos taken at the Forum.

As always, I thank you for your ongoing support and commitment to the work of IDI.

Sincerely Yours,

Dr. Arye Carmon
President, IDI