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Economy in Israel

  • January budget booms to NIS 3.9 billion surplus on tax revenues

    ISRAEL, 2016/02/09 The Finance Ministry's January budget statement, which typically exhibits a surplus for seasonal reasons, showed a hefty NIS 3.9 billion surplus resulting from unusually high tax revenues. The in general 2016 budget plans a NIS 35 billion deficit, amounting to 2.9% of GDP. The rolling deficit over the last 12 months stood at just 2.2% of GDP, higher than the final deficit for 2015, which stood at 2.15% of GDP. The revenue haul for the month came out at NIS 27.4 billion, a nominal 7.8% higher than last January. Expenses came out at NIS 23.8 billion, plus an extra NIS 4.3 billion in deficit payments and 0.1 billion in National Insurance payments.

  • Poverty, inequality mar strong Israeli economy, OECD

    ISRAEL, 2016/02/09 Israel’s economy has fundamental strengths, inclunding high levels of poverty and inequality, according to the new Organization for Economic Co-operation and Development reports on Israel, released Sunday. While Israel ranks poorly compared to OECD averages in areas such as poverty, housing and air quality, it places part the best in terms of life satisfaction, health status and educational attainment. From presently on, while Israelis are trustful, the perceived corruption level is high, which the statement said is a “cause for concern.”

  • Israel, Consumer sentiment improves while businesses are less confident in December

    ISRAEL, 2016/01/15 The business confidence index elaborated by the Central Bureau of Statistics (CBS) dropped from 2.2 in November to 1.3 in December, thus hitting an eight-month low. According to the CBS, December’s decrease was due to a deterioration in the majority of the sub-components that comprise the index. However, the consumer confidence index increased from minus 19.1 in November to minus 17.5 in December, thus marking the highest reading in 10 months. Despite the monthly increase, consumer confidence remains in negative territory.

  • Israel: Start-up nation comes of age

    ISRAEL, 2016/01/10 Vonetize, an Israeli company that offers video on request to customers in Africa, Latin America and other emerging markets, is “not very focused on the exit”, in the words of its chief executive, Noam Josephides. The founder says he has no plan to sell the company any time any minute at this time. Vonetize, which provides a Netflix-style premium streaming service via mobile devices and smart TV, launched in 2011 with $200,000 from an angel investor. The company in 2014 again raised $6m via small, private financing rounds, with some help from friends and family.

  • Israel's CPI falls more steeply than expected in November

    ISRAEL, 2015/12/16 The Consumer Price Index fell 0.4% last month, the Central Bureau of Statistics reports.

  • CNR , Med region economies 11th edition, ten years seem like a hundred

    CYPRUS, 2015/11/21

  • Israeli Economy Strong, High Growth Predicted

    ISRAEL, 2015/09/21 The Israeli economy flourished this completed year and a high rate of economic increase is projected for the coming year, according to the annual statement on Israel’s economy published Wednesday by the International Monetary Fund (IMF). The statement is based on the evaluation of a senior IMF delegation that visited Israel. According to the IMF’s economists, Israel was relatively unhurt by the world crisis of 2009 and remains a country whose open economy is well-integrated with the international economy. The IMF economists said Israel has an chance in its high-tech industry, which accounts for additional than 40 % of the country’s industrial exports.

  • Israel's Economic Boom Buoyed by India, China, Japan

    ISRAEL, 2015/09/14 While the booming economy of the Middle East's small, but prosperous national of Israel was coming under increasing pressure from its "Western" Allies, threatening economic boycotts, if no transaction with the Palestinians was forthcoming, a major economic salvation has come forth from the Far East's mightiest regimes— China, India, and Japan. While some Western media has emphasized an increased anti-Israel antagonism, led by a number of U.S. universities, and a few liberal Protestant church groups, Israel Prime Minister Netanyahu has gained unprecedented economic support from East Asia's emerging power structure. Innate curiosity revealed a combination of loosening shackles from Mideast oil producers by the Asian nations, combined with admiration for Israel's ultra-modern technology development, and military equipment, being purchased in record numbers by India, primarily, but as well China.

  • Head of Israel's National Economic Council, Prof. Eugene Kandel

    ISRAEL, 2015/07/26 Is there a lesson for Israel in the Greek tragedy playing out in Athens? There is, according to outgoing National Economic Council Chairman Prof. Eugene Kandel. “Long-term fiscal credibility is a critical component for any economy,” Kandel told ministers at Sunday’s cabinet conference. Over the completed decade particularly, he said, Israel has been a model of fiscal stability, as it has cut its public sector, reduced deficit, and — most importantly — encouraged foreign investments. A lot of of those foreign investors have been the multinational corporations that have helped make Israel a world tech center. Currently, about 300 large international corporations have R&D centers in Israel, pumping billions of dollars a year into the country’s economy. One company alone — Intel — is responsible for no less than approximately 30,000 jobs, according to numbers from the company, which have been confirmed by government statistics agencies.

  • IMF Issues Upbeat Preliminary Report On Israel’s Economy

    ISRAEL, 2015/07/21 The International Monetary Fund (IMF) released its preliminary statement on Israel’s economy on Wednesday, noting that the country’s economy is “performing well” and that the economic outlook is positive. IMF division chief Bas Bakker presented the findings to Israeli Minister of Finance Moshe Kahlon and the Bank of Israel governor Karnit Flug. The findings confirmed that Israel’s GDP is growing and “has not had the sharp post-crisis slowdown that a lot of other nations have experienced.” The statement noted that the rate of Israelis participating in the workforce has increased from 59% in 2007 to 68% today.
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