National Insurance Institute offices in Beersheva  credit: Tali Bogdanovsky Israel's National Insurance faces an empty purse by 2036

Prof. Avia Spivak: Raise taxes and the retirement age, and there will be no problem.

Israel Post e-commerce distribution center  credit: Shachar Flayshman Israel Post privatization tender disappoints

The Milgam consortium won the tender with a bid of NIS 461 million, well below the state's valuation of the company.

Ambassador Jack Lew  credit: Cadya Levy "Integrating Arabs isn't just the right thing; it's the smart thing"

US ambassador to Israel Jack Lew speaks to Globes about Arabs in Israeli society, US-Israel relations, normalization with Saudi Arabia, and his concern for the hostages.

Shopping mall  credit: Shutterstock/YIUCHEUNG Israel's GDP jumps but still below pre-war level

Initial estimates show 14.1% annualized growth in the first quarter, but GDP was down 1.4% in comparison with the first quarter of 2023.

Inflation credit: Tali Bogdanovsky April CPI higher than expected

Annual inflation in Israel is back on the rise, while housing prices rose for the fourth consecutive month.

Knesset credit: Shutterstock Roman Yanushevsky On Independence Day eve Israel's population reaches 9.9m

The population has grown by 1.9% or 189,000 since last Independence Day, the Central Bureau of Statistics reports.

Moody's  credit: Shutterstock/Daniel J. Macy Moody's leaves its Israel rating unchanged

"The current A2 rating adequately captures Israel's elevated exposure to geopolitical risks."

Recep Tayyip Erdogan  credit: Shutterstock/Mr. Claret Red Turkey rescinds relaxations on trade with Israel

Comments by Israeli Foreign Minister Israel Katz forced the Turkish government into denying reports of renewed exports of construction materials.

Exports being loaded at Ashdod Port  credit: Tamar Matsafi Israeli exporters warned on South Africa

Ashra, the Israel Foreign Trade Risks insurance Corporation, says one outcome of political instability in South Africa could be a ban on payments to Israel.

Yali Rothenberg credit: Shlomi Yosef Fiscal deficit widens beyond government's target

Israel's fiscal deficit continued to widen in April, reaching 7% of GDP over the past 12 months, or NIS 132.2 billion, the Ministry of Finance accountant general Yali Rothenberg reports.

Port of Gemlik in Turkey  credit: Shutterstock Turkey approves renewal of exports to Israel

The approval is temporary and only for factories that have already worked with Israel.

Tel Aviv mayor Ron Huldai Municipal budget cut to make Tel Aviv costlier

Price hikes can be expected for leisure, cultural and child care services as well as municipal parking fees as the city shaves NIS 500 million of its annual budget.

Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich credit: Ronen Zvulun Reuters Treasury mulls tax hikes to narrow Israel's fiscal deficit

Needing to increase revenues, VAT could rise even higher than the 18% already approved and income tax brackets might not be updated despite inflation.

Minister of Finance Bezalel Smotrich  credit: Noam Moskowitz, Knesset Press Office Could S&P downgrade Israel again?

Following its unscheduled cut to Israel's credit rating in April, S&P is due to release its routine country review this week. Analysts assess what might happen.

The Bank of Israel  credit: Tali Bogdanovsky Israel's forex reserves fall sharply

Israel’s foreign exchange reserves at the end of April 2024 stood at $208.109 billion, a decrease of $5.632 billion from their level at the end of March, the Bank of Israel reports.

Port of Gemlik in Turkey  credit: Shutterstock Turkish, Israel firms circumvent boycott

Turkish exporters are shipping goods to Israel via third countries. The Turkish government, however, is looking for broader political gains.

Average wage in Israel credit: Shutterstock Rita Kapitulski Average monthly wage in Israel exceeds NIS 14,000

Initial figures for March 2024 show that the average monthly wage was NIS 14,108, up 3.5% from March 2023, the Central Bureau of Statistics reports.

Israel Tax Authority  credit: Eyal Izhar Tax Authority launches invoice certification program

The Israel Invoices program is designed to combat fictitious invoices, which cost the state billions in tax evasion.

IDF operations in Gaza credit: IDF Spokesperson OECD cuts Israel's growth forecast

The OECD says that Israel's economy will grow by 1.9% in 2024 and 4.6% in 2025 in its latest report on the global economy.

Israel construction site credit: Shutterstock 8,000 Palestinians furtively employed in Israeli construction

A senior source in Israel's construction industry insists that about 8,000 Palestinian workers from Judea and Samaria have recently been given permits to work in Israel with 8,000 more expected to enter soon.

Bear market Credit: Shutterstock Deal or no deal with Hamas - the economic fallout

"Globes" talks to three market analysts about the consequences of a ceasefire or escalation.

Israeli passport  credit: Shutterstock Israelis can now apply for passports online

People who have registered biometric data can submit passport and ID card applications via the Population and Immigration Authority website.

S&P Global credit: Shutterstock Valeriy Eydlin S&P cuts Israel's credit rating

Stressing that the war is continuing longer than expected, the ratings agency has also cut Israel's credit outlook from 'stable' to 'negative.'

Benjamin Netanyahu and Bezalel Smotrich credit: Ronen Zvulun Reuters IMF halves Israel's 2024 growth forecast

The International Monetary Fund sees Israel GDP growth of just 1.6% in 2024.

Governor of the Bank of Israel Amir Yaron  credit: Yonatan Bloom Analysts turn pessimistic on interest rate cut prospects

The March CPI reading was higher than forecast, but that is not necessarily the main reason for estimating that an interest rate cut by the Bank of Israel is not imminent.

Inflation credit: Tali Bogdanovsky Inflation back on the rise, housing prices rising again

Israel's Consumer Price Index rose 0.6% in March, higher than expected, while apartment prices rose for the third consecutive month.

Cars ready for export from Turkey in 2023  credit: Shutterstock Could car exports to Israel be Erdogan's next target?

Turkey is the fourth largest source of vehicles imported into Israel. Trade relations with China are looking less rosy as well.

Governor of the Bank of Israel Amir Yaron  credit: Yonatan Bloom Amir Yaron stresses stability amid security escalation

The Bank of Israel Governor tells "Globes" why the rate cut was postponed, and expresses concern about long-term defense spending and the need to integrate the haredi community into the army and job market.

Meeting of northern local authority heads with PMO director general  cerdit: Government Press Office Gov't presents draft plan for rehabilitating north

At this stage, the plan is budgeted at NIS 3 billion. Confrontation Line Forum Moshe Davidovich: The plan still falls short.

Israel Post  credit: Eyal Izhar Two bidders remain for Israel Post

A high salaries expense, lack of clarity about the real estate, and exposure to taxation of the Postal Bank, have deterred potential buyers.

Bank of Israel  credit: Orit Deal BoI will probably cut rate next time say analysts

Mizrahi Tefahot Bank chief strategist Yonie Fanning: Basic economic conditions are conducive to lower rates.

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