Articles by October, 2020

The International Monetary Fund has published its half-yearly global economic forecast (October 2020) and it seeks to dispel some optimism compared to the publication in April 2020. Also in relation to Israel, the forecast is less bad, but still - our recession will be severe compared to other developed countries. Precisely in the midst of the second wave of the corona, the fund's economists "softened" the recession forecasts published six months ago, and now the global economic contraction in 2020 is expected to stand at 4.4% (real decline in global GDP) instead of 5.2% when the plague...

How is it possible that the number of businesses closing is actually declining when Israel is experiencing one of the biggest economic crises in the country's history. According to data from the business information company, CofaceBdi, between January and September 2020, 49,125 businesses were actually closed. In contrast, data from the Tax Authority show that only 14,271 business owners reported to the Tax Authority the closure of a business during this period. According to CofaceBdi, in July and August the number of businesses that ceased operations increased sharply (87% and 99%,...

The Corona Cabinet on Thursday approved the first phase of easing the general closure. According to the Cabinet decision, educational institutions for children up to the age of six will return to activity, as well as businesses that are not audience recipients. In addition, the restriction that only one thousand meters away from the place of residence is allowed will be removed, and it will be possible to visit other people's homes. In addition, takeaway services will be available in restaurants in addition to deliveries, beaches and nature reserves will be open to the general public,...

The Legal advisor of the government and the Cheif procecuter Avichai Mandelblit officially announced on Thursday evening that he has decided to adopt the recommendation of the police and the State Attorney's Office and not open a criminal investigation against Prime Minister Benjamin Netanyahu in the stock affair. The attorney general states that the prime minister received benefits, but the offense is statute-barred. At the same time, Mandelblit referred to the submarine case (Case 3000) and announced following the petition of the Movement for Quality of Government to the High Court to...

The Ministerial Committee approved the extension of the closure in the red authorities, the morbidity of which has not decreased enough to allow for the relief - but approved the opening of the education system until the age of 6, contrary to the experts' opinion. In a discussion held among the ministers on Friday afternoon, it was decided that despite the gradual withdrawal from the closure, the restrictions in Bnei Brak, Beitar Illit, Elad, Modi'in Illit, Rechasim and some neighborhoods in Jerusalem will remain until Wednesday, and Corona commissioner Prof Gamzo said he estimates some...

Bahrain and Israel on Sunday signed an interim agreement to establish diplomatic relations between the two countries. Bahrain Foreign Minister Abed a-Latif a-Ziani, Foreign Ministry Director General Alon Ushpiz and National Security Adviser Meir Ben Shabbat signed the joint declaration establishing diplomatic relations between Israel and Bahrain as well as eight memoranda of understanding in various fields, including visas, aviation, agriculture and investments . "We have signed these agreements because we believe in coexistence and reconciliation," the Bahraini foreign minister said at...

The annual State Comptroller's report, which was devoted mainly to issues in the fields of economics and infrastructure, with an emphasis on socio-economic issues, also addressed two important environmental-socio-economic issues: energy efficiency and the promotion of renewable energies and reducing fuel dependence. Plans are organized, and how the implementation of existing plans fails, so the goals are not achieved, and it is important to say that in advance these are low goals on any scale. However, this report is only the tip of the iceberg, and the big picture is even more worrying,...

Within a few days, the entire public in Israel will be able to undergo corona tests without the need for a referral. In addition, each isolator will be able to perform two corona tests - one on the third day and the other on the tenth - and exit isolation after 12 days if they are negative. This was announced today (Tuesday) by the corona projector, Prof. Roni Gamzo, in a media briefing. Gamzo said that the actual tests are tens of thousands lower than the test capacity, which is 70,000 a day, and any test that is not performed is a miss, he said. In addition, he announced that Bnei Brak,...

The Corona Cabinet has decided not to further ease the restrictions at this stage, and to discuss this again next week in accordance with the updated morbidity data. According to the position of the Ministry of Health, it is not possible to bring forward the opening of the stores, which is scheduled for November 15. At the hearing, Finance Minister Israel Katz called on ministers to allow small businesses and shops on the street, hairdressers and beauty and cosmetics salons to resume their activities as early as Sunday, to allow self-collection from all businesses from tomorrow and to...

The consequences of the corona crisis and how it will be managed will continue to accompany the Israeli economy for a long time. In 2021, a further contraction in the economy, a mass closure of businesses and an increase in the number of high-risk businesses were forecast. The main victims will be small and new businesses, and those that have rejected loan repayments to banks. This all comes up in a review conducted by business information firm Dun & Bradstreet for TheMarker newspaper. The review shows that 2021 is expected to be the second consecutive year in which the economy has shrunk,...