Minister of Industry, Trade and Labor Eli Yishai, Minister of Finance Avraham Hirschson, and Director-General of the Ministry of Finance Yossi Bachar addressed a large gathering of the Conference of Presidents regarding recent economic developments in Israel. Minister Yishai thanked the American Jewish community for its financial support during the war, and said that despite the many difficulties Israel faced during the conflict, its economy remains strong. Israel is investing billions of shekels to help rebuild cities in the north of the country, which had sustained rocket and missile damage. With regard to the infrastructure in Sderot, Yishai said that he was working with the Finance Ministry to strengthen the buildings in the city against Kassam rocket attacks.

Director-General Bachar said that a recent International Monetary Fund report found that the state of the Israeli economy is very strong. The economy is growing at a rate of 5 percent, down slightly from 6 percent leading up to the war. Bachar said that the total cost of the war, including compensation for the citizens of the North, was $2.8 billion. He noted that major financial support from Jewish communities abroad and particularly from America, as being very important.

Minister Hirschson said that since the end of the war, 95 percent of residential damage claims filed by citizens from the north had been answered by the Israeli government. Additionally, people who were unable to make it to work because of the war were fully compensated by their employers. Hirschson added that in 2006 foreign investments in Israel reached an all-time high of $20 billion, with an increase expected for 2007.

In response to a question about the status of Israelis resettled from Gush Katif after the Disengagement, Minister Hirschson said that Israel is doing everything it can to assist those who are still without homes or jobs. Minister Yishai added that he and Minister Hirschson are on a committee appointed by Prime Minister Olmert which is exploring various different ways to assist the displaced citizens from Gush Katif, and are working towards resolving the issue as quickly as possible.