##ryl and other adverse weather conditions could influence higher inflation. however, the factors that could result in lower - than - projected inflation include weaker - than - projected global growth, which could reduce domestic demand and imported inflation. in concluding its discussions, the mpc noted that any future monetary policy decision to reduce interest rates will continue to depend on incoming data. concluding statement ladies and gentlemen, the primary mandate of bank of jamaica is to maintain inflation firmly between 4. 0 and 6. 0 per cent and we remain resolute in this commitment. thank you. i will now take questions. 4 / 4 bis - central bankers'speeches

trend in the industry. companies that will bring advanced technologies to israel will require domestic contractors to streamline as well, and will also contribute in the long term to an increase in the wages of domestic workers in the industry. last year, i also spoke to this honorable forum about productivity, and i focused on a number of sources for the disappointing increase in output per work hour in most industries in the business sector in the past two decades. i focused on the low stock of capital per worker, on the low level of infrastructure, and on the low government investment in r & d. in addition, i related to a number of opportunities for improving public services through investment in physical and human infrastructure in them, as well as to reinforce the policy of narrowing gaps and integrate various population groups in the labor market. we can go back and talk about these problems and challenges, which have certainly not been solved in one year, this year as well. but this time, i would like to expand the discussion on the structural issues that have an impact on productivity picture. these mostly do not involve a marked increase in budgets, but mainly involve streamlined processes and creating changes, some of which may negatively impact the profitability of certain groups in the economy. therefore, it is relatively difficult to make them. the updated doing business report by the world bank shows that israel fell to 53rd place in the easiness ( or difficulty ) of doing business here, from 26th place in 2007. this is a result of worsening bureaucratic conditions in israel, and of the reforms in cleansing regulation that were implemented in other economies. among all oecd countries, israel is in 31st place out of 34 countries – fourth worse after turkey, greece and luxembourg, and beneath all the others. our weakness is particularly prominent in the areas of opening, registering and licensing businesses, building permits, tax payment processes, and barriers to international trade. barriers and restrictions on the trade of commodities and services were also noted in the oecd report on israel as being particularly high. by the way, our strengths are reflected in the protection of small investors, and in the relative ease of closing businesses. ( it ’ s too bad this is not true of opening them. ) in order to illustrate the types of problems that make it difficult to do business in israel, we can focus on the “ tax payment index ”. an analysis of the sub - indices of this parameter shows that despite the fact that the tax rate on businesses operating in israel is