Prime Minister Benjamin Netanyahu and Finance Minister Israel Katz unveil nine-step plan that includes bailouts for small businesses, grants to families, and aid to the unemployed. "This is not election economics," PM insists.
The Central Bureau of Statistics reports that Israelis are pessimistic about the country's economic situation as a result of the challenges of 2020 and the immediate lockdown of 2021, however the income index stands at 2% and is a reason for cautious optimism.
Deputy Governor Andrew Abir: We are trying to prevent over-appreciation in the short term that will make it difficult for companies when the exchange rate comes back.
Ministry warns that if the health environment deteriorates forcing further lockdowns, the economy would grow by only 1.9%.
The IPO, the biggest US listing in 2021 so far, will see Playtika traded under the ticker symbol "PLTK." IPO seen as a test how of how much investors favor gaming stocks in the ear of the global pandemic.
Rating echoes those of S&P and Moody's, which have also given Israel's economy positive forecasts. "The ratings are constrained by security risks, but Israel's credit profile has shown resilience to periodic conflicts," Fitch says.
Citing the harsh economic effects of the coronavirus pandemic, Treasury says that the deficit, which is three times higher than that of 2019, amounts to 11.7% of the country's gross domestic product.
New restrictions that will tighten a lockdown imposed on Dec. 27 will take effect at midnight between Thursday and Friday. It will be in force for 14 days.
Central Bank says that if vaccination campaign maintains current pace, economy will grow by 6.3% in 2021 and 5.8% in 2022, but warns against political instability.
Overall Israeli exports in 2020 totaled $107 billion, down 3% from last year. Dramatic blow to tourism and transportation industries was offset by the sharp increase in the export of software and research development services.