Capital Market

"If the vaccine for Corona is available in Israel in the middle of 2021 - growth in Israel in the coming year will be relatively positive, at a rate of 4.8%. But in a continuing morbidity scenario - growth will reach only 2.2%, which is close to zero per capita growth. This first forecast, since yesterday's announcement by Pfizer about the success of its vaccine trial for Corona, was made today (Tuesday) by the chief economist at the Ministry of Finance, Shira Greenberg. This is in the context of presenting the macroeconomic situation of Israel, against the background of the corona crisis,...

The opening of IKEA branches on Wednesday is questionable: Hours after the Swedish furniture chain announced yesterday that it would open all branches today, the Ministry of Health announced that it would not allow it. 'The Ministry of Health did not give permission for the shops to open. The ministry's position is that a furniture store, including IKEA, is not a place whose main business is selling essential products for home maintenance, "the ministry said. In the IKEA environment, it is said that the Ministry of Health does not have the authority to determine this, and the chain's...

American supermarket giant 7Eleven on its way to Israel. The chain is in talks with Electra Consumer, which is controlled by the Zalkind family, to hand over a franchise in which a Fox partner controlled by Harel Wiesel is expected to be a partner. The American company will try - with the help of the Israeli partners - to quickly bite into a share of the Israeli convenience store market, which has a turnover of about NIS 10 billion a year and enjoys growth, according to people close to the negotiations. After the negotiations between the parties were exposed in the media, Fox (-2.05%...

Consumer confidence in the Israeli economy continues to recover slowly: in the first half of November the index stood at minus 22%, while in the second half of October the index stood at minus 26% and in the first half of October, during the second closure, consumer confidence stood at minus 32%. This emerges from a public trust survey published by the Central Bureau of Statistics. However, the negative value of the index indicates that consumers in Israel are still cautious when it comes to economic stability. The consumer confidence index is in the range of minus 100 and plus 100. The...

The Supervisor of Banks is promoting a new outline for deferring debts in respect of consumer loans and mortgages. In the current situation a borrower who was interested in a deferral received it from the banks automatically with the help of principal payments of the debt in respect of consumer loans and mortgages. According to the outline, it appears that there will be no sweeping postponement of payments - and from now on it will be done differentially

The Ministry of Finance's chief economist's examination of the economic situation of the victims of the economic crisis raises concerns that the mortgage repayments of tens of thousands of households who bought an apartment in the past five years and went on unpaid leave exceed half their income. Assuming a fixed and unlinked average interest rate of 3.2% for a repayment period of 30 years, it is obtained that the monthly repayment of households that purchased a first apartment in 2019 and were expelled from the Knesset amounts to NIS 3,900. Was 23% on average, and in the two lowest...

The employment rate in the economy has fallen from 61% to 50% since the beginning of the crisis - but this figure does not reflect the intensity of social disparities: the employment rate of the bottom quintile of income was 29% lower in October relative to the eve of the crisis, compared to only 6%. In the top quintile. That is, the decline in employment among the weakest was 5 times greater than that recorded among the strongest. This emerges from a review of the effect of the second closure on the labor market published today (Sunday) by the chief economist at the Treasury, Shira...

Blue and white chairman and deputy prime minister Bemi Gantz on the last day of the 23rd Knesset, the leadership he so desperately lacked during his tenure in the Netanyahu government. He preferred the good of the state over his personal good and agreed that the government would approve a continuing budget. The Finance Ministry's bill according to which the follow-up budget for 2021 will not be based on the last approved budget - for 2019. According to the decision, another NIS 100 billion can be spent, which means that instead of a NIS 100 billion cut in ministry expenses, the cuts will be...

The Bank of Israel estimates that the government's decisions to move to a stricter closure, which will reduce attendance at workplaces and completely close jobs that receive an audience and the education system, will entail a cost of NIS 3.5-3 billion a week for the economy. This is in contrast to the Bank of Israel's estimate of the cost of the least tightened closure, which began at the end of December, which was NIS 2.5 billion a week. The new decisions join, of course, the existing restrictions on leaving the house up to a distance of 1 km, cultural activities, banquet halls, etc

There was a significant increase in the corona 2020 in the government debt of Israel and in the public debt, which includes the debts of local authorities. Taking out large-scale loans for government spending to fight the virus and aid the economy, caused for the first time in 11 years a significant increase in debt and this increase is expected to continue in 2021. However, it must be said honestly. A debt of 73% is a very impressive rate. We are very far from a real economic crisis. Even if it grows to 80% this year, we are very far from a real economic crisis