Israel's Treasury sees 5% growth in 2021

Yisrael Katz Photo; ASAP Creative Shutterstock

The Ministry of Finance is expected to present a budget of NIS 426 billion for 2021, plus NIS 54 billion in special assistance because of the pandemic.

Israel's Ministry of Finance sees a swift economic recovery next year and predicts 5% growth in 2021, according to the 2021 budget proposal, which will be presented to Prime Minister Benjamin Netanyahu tomorrow and to Minister of Defense Benny Gantz on Tuesday.

The Ministry of Finance's growth forecast is very close to the Bank of Israel's 'best scenario' forecast, which sees 6.5% growth next year if the country gains full control over the Covid-19 pandemic. The Bank of Israel sees only 1.5% growth next year, if the government fails to control the virus and has to impose further lockdowns.

Israel's 2021 budget is expected to amount to NIS 426 billion in the regular budget and an additional NIS 54 billion in emergency assistance to the economy for businesses, the self-employed, and unemployed.

Published by Globes, Israel business news - en.globes.co.il - on November 29, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Yisrael Katz Photo; ASAP Creative Shutterstock
Yisrael Katz Photo; ASAP Creative Shutterstock
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