Israeli Prime Minister Benjamin Netanyahu said he will seek to emulate billionaire Warren Buffett by sticking to a few clear principles aimed at helping the economy to grow.

Netanyahu, speaking at a business conference in Tel Aviv today, pledged to base his economic policy on budgetary discipline, cutting taxes, investment in education, building infrastructure and reducing bureaucracy.

“I look at Warren Buffett,” Netanyahu said. “He picks simple and clear principles and what gives him the result is the consistency with which he follows those principles.”

Buffett, chief executive officer of Berkshire Hathaway Inc., is known for his frugal lifestyle and adherence to value investing, the concept of buying out-of-favor stocks that has made him the world’s third-richest person. The 80-year-old resident of Omaha, Nebraska, bought 80 percent of Israel’s Iscar Metalworking Cos. for $4 billion in 2006.