Capital Market

Recovery in Israel economic activity:  The deficit in the last 12 months decreased to10.1%
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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...

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Jul 8, 2021

Finance minister Lieberman : Some Ultra Orthodox at 18 don't know the multiplication table
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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...

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Jul 13, 2021

Deficit in the budget will amount to 4.1% in 2022 Without government spending on the corona crisis
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The deficit in the state budget will amount to 4.1% in 2022, double the target set by the government before the corona crisis, which stood at 2%. Without government spending on the corona, the deficit would amount to only 3.7%. This summer the budget deficit is still 7% and therefore it is already a huge improvement in the finance forecast that will be presented to the government this coming Sunday. Also, growth this year will stand at 5.1% and in 2022 at 4.7%. This is according to data from the "numerator" published by the Ministry of Finance, which includes all the expenses and revenues...

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Jul 26, 2021

Finance ministry estimates: Israel will end 2021 with a deficit of 6.8% and in 2022 with 3.9%
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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...

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Jul 30, 2021

The government is expected to discuss the budget - A political majority is guaranteed
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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,...

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Jul 31, 2021

Three years since the last budget Israeli government approved state budget for 2022-2021
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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...

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Aug 2, 2021

The deficit  in the last 12 months dropped to 9.3% of the GDP -  30% jump in tax revenues
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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...

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Aug 8, 2021

Tax Authority postponed until October the deadline for repaying back aid grants illegally received
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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...

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Aug 10, 2021

 Bank of Israel requires banks to provide information on consumers behavior
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The Bank of Israel is on its way to becoming the "big brother" of Israeli citizens: it requires banks and credit card companies to provide it with comprehensive information on the consumer behavior of their customers, which it will centralize in a special database. The database will centralize the expenditure on each citizen's credit cards, the use he made of checks and the amount of cash he withdrew and how he conducted himself with the "grant per citizen" he received. In a letter sent by the Governor's Chief of Staff, Dr. Golan Benita, to the banks and credit card companies, he demanded...

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Aug 26, 2021

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