Bank of Israel Governor Dr. Amir Yaron says the financial cost of the pandemic would be $4.3 billion in 2020 and $7.8 billion in 2021. This would bring the budget deficit to about 13% of gross domestic product this year and to 7% next year.
The minimum of $290 million needed to begin investing will not be reached before the end of 2021, says Bank of Israel Deputy Governor Andrew Abir.
Layoffs expected to save Israel's national air carrier $88 million per year. Some workers to be given early retirement, others will leave with "enhanced" severance packages.
Organization for Economic and Cooperation and Development says coronavirus crunch may trigger the worse peacetime recession in the past 100 years.
According to the state prosecution, the vehicles would not have been allowed into the country if the real data on diesel engine emissions had been provided.
Under the deal, the company will receive loans of $250 million, most of which will be guaranteed by the state. The company is expected to raise an additional $150 million by selling shares that, if they aren’t sold entirely to the public, will be bought by the state.
El Al’s fate is expected to be decided in the coming days, with the Israeli airline looking to reach a deal with workers on salary and spending cuts to get government aid.
Three-quarters of halls and venues won't reopen after August, owners warn, demanding immediate relief for their sector's 150,000 employees.
"There is a growing demand for our maritime solutions. I believe that the unique combination of a diverse portfolio of operational systems and groundbreaking technological innovation enables us to effectively address the evolving needs of maritime forces," Elbit official says.
"We will not compromise on health considerations but we will not return to a situation where the economy will be closed," Israel Katz says.