Capital Market

seems that the economy is emerging from the corona crisis, but it seems that many low-wage earners have not yet returned to work, and as a result, the average wage in Israel for Israeli workers soared to a peak of NIS 12,740 in March. This is an increase of 5.5% compared to February, when the average salary was NIS 12,079. Even the wages of foreign workers soared to NIS 7,045, an increase of more than 10% compared to the previous month, when their wages were only NIS 6,316. From data from the Central Bureau of Statistics (CBS), it can be learned that the preference of quite a few workers...

At a meeting of the Finance Ministry's management this morning, Finance Minister Avigdor Lieberman announced that after a discussion with the ministry's professionals, he approved in principle Israel's joining the proposed digital economy taxation outline, ahead of the outline approval by the OECD designated committee on June 30, 2021. Lieberman: "The economy is becoming more and more global and we are required to take policy measures in cooperation with other countries. The Ministry of Finance will work to ensure that the Israeli economy meets international standards in various fields,...

The recovery in economic activity in Israel continues, according to two indices published today. The first is the Accountant General's announcement that the cumulative deficit in the last 12 months reached the end of June reached 10.1% in relation to GDP, which is NIS 144.6 billion, compared with 10.5% at the end of May. The second figure comes from another division of the Ministry of Finance, the Tax Authority, which reports an increase in imports to Israel, an increase that indicates an increase in private consumption. The Accountant General's announcement in the Treasury also shows...

The Minister of Finance, Avigdor Lieberman, rejected the harsh criticism leveled at him for his decision to introduce a criterion of exhausting earning capacity to subsidize day care centers as early as September - a move that will lead to the cessation of subsidies for 18,000 ultra-Orthodox families. "We did not invent the wheel," Lieberman told reporters at a special briefing with senior officials of his office ahead of the 2022-2021 budget. "I heard all the cries of the robbed Cossack. But we have done it twice already. Former Prime Minister Benjamin Netanyahu also did it in 2003 and in...

Israel will end 2021 with a deficit of 6.8%, and 2022 with a deficit of 3.9%. After that, the reduced outline of the deficit will continue until 2026, when it will stand at 1.5%, according to the draft decision of the state budget, which the Ministry of Finance submitted to government members this morning. Towards the approval of the budget: The Ministry of Finance distributed to the government ministers the main points of the state budget, which includes the budget framework and the new deficit ceiling, along with the distribution of the budget according to government ministries and the...

The government is expected to discuss the budget bill tomorrow and it will approve it. This is the first time that the Israeli government has approved a budget in the last three years. A political majority for a budget is guaranteed after 17 government ministers pledged to support it. The ministers demand budget increases of NIS 12-14 billion a year, they will criticize various items, the discussion will continue until late at night until Monday morning, but in the end the budget must be approved by the government. It was initially planned to continue the budget discussions on Thursday,...

Three years since the last budget was approved, the Israeli government approved this morning (Monday), after a white night of heated discussions, the state budget for the years 2022-2021 - and later it will have to approve it in the Knesset as well. In light of the narrow coalition, the government is facing a significant problem ahead of the Knesset vote on the budget in mid-November - and in order to obtain a majority it will have to reach various "deals". The government discussed approving the budget from Sunday morning, went out for a break in the afternoon - and returned to discuss it...

The current account deficit in the state budget in the last 12 months to July dropped to a single-digit figure - 9.3% of GDP. The deficit fell after a sharp jump of about 30% in state tax revenues in July. The deficit in June reached 10.1% and has been declining since the peak of March, when it stood at 12.1%. The total deficit is about NIS 44 billion. The volume of tax collection in Israel soared to an all-time high of NIS 35.8 billion - an increase of 23.7% compared to the same period last year. The increase was mainly due to the investments and issues of the high-tech industry. In...

The tax authority has not yet begun taking enforcement action to return aid grants to businesses that illegally received the money during the Corona crisis. Following pressure from the self-employed, the tax authority postponed for two months, until October 2021, the deadline for repaying the debt, through an arrangement for the distribution of interest-free payments. As part of the corona grants, billions of shekels were paid to businesses based on their statement. In retrospect, it became clear that these were not eligible for the grants because the extent of the damage to the business...