December 15, 2009 / 2:32 PM / 10 years ago

U.S. says Israel loan guarantee targets on track

WASHINGTON, Dec 15 (Reuters) - The U.S. Treasury Department said on Tuesday that Israel was on track to meet 2009 fiscal targets under U.S. loan guarantee agreements, including holding its budget deficit to a maximum of 6 percent of gross domestic product.

In a statement following a mid-year review of the U.S.-Israel Joint Economic Development Group in Jerusalem, the Treasury said Israel also was on track to meet a maximum of 3.05 percent increase in 2009 real expenditures over 2008.

The review showed Israel’s progress towards meeting 2009 conditions connected to a U.S. fiscal year 2010 loan guarantee tranche of $333 million, the Treasury said. As of Dec. 15, Israel has $3.148 billion available in U.S. loan guarantees, subject to statutory deductions.

Israel is due to report in early 2010 whether it has met conditions for the 2010 loan guarantee tranche.

The Treasury said the delegations, which included senior U.S. Treasury and State Department officials and Bank of Israel Governor Stanley Fischer and Israeli Ministry of Finance Director General Chaim Shani, also discovered possibilities to expand high-technology cooperation to boost job creation and innovation. (Reporting by David Lawder; Editing by James Dalgleish)

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