Hyderabad, July 1 -- Israeli Prime Minister Benjamin Netanyahu has said Israel should begin reducing its dependence on financial assistance from the United States, arguing that the country's economy has grown strong enough to sustain itself without American support.

Speaking in an interview with Israel's Channel 14 on Tuesday, June 30, Netanyahu said he wanted the process of ending US aid to begin this year, describing continued assistance as no longer necessary.

"I want to stop American aid. It's like welfare; I don't want it," Netanyahu said.

He added that US assistance now accounts for only a small share of Israel's gross domestic product and that Israel is capable of funding the amount on its own.

"Our economy is no longer a small...