They said they favored deregulation and privatization and even proposed a modest tax cut.

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With genuine deregulation, privatization, tax simplification and deep tax cuts, Israel's entrepreneurship in the high-tech arena could spread to the rest of the economy, quickly lowering the 8% unemployment rate.

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Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997.

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Europe is finally, and at times grudgingly, embracing the tax cuts, privatization and deregulation that feed the rich soil needed to create a vibrant industry.

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He is a free-market oriented businessman who in his previous tenures as prime minister focused on privatization, infrastructure development and deregulation.

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