Tel Aviv, February 7 (RHC)-- An Israeli minister says a Palestinian state would ruin Israel’s economy, as Tel Aviv steps up efforts to prevent the creation of an independent Palestinian homeland.

Israeli Economy Minister Naftali Bennett said that -- in his words -- establishing a Palestinian state in the heart of the country will pulverize the Israeli economy." He further claimed that the creation of a future Palestine would undermine the Israeli regime’s security and be a terrible mistake for the Jewish state.

Bennett, who leads Israel’s Jewish Home Party, said a Palestine in the heart of Israel poses too great a threat to handle. He also made a mockery of the Palestinian-led Boycott, Divestment and Sanctions campaign. The movement, also known as BDS, is seeking an end to the Israeli occupation of Palestinian territories and Tel Aviv's land grabbing policies.

Bennett said Tel Aviv expects its friends around the world to stand beside Israel against the growing boycott efforts, and not to be their trumpet. Concerns have been growing among Israeli leaders over an increasing international boycott of products linked to Israel’s illegal settlements in the occupied West Bank.

In the latest development, on Thursday, Norway's sovereign wealth fund blacklisted two Israeli firms involved in the construction of illegal settlements in East Jerusalem.