Articles by January, 2024

In a sobering revelation, the Ministry of Finance anticipates a staggering 6.5% deficit of the GDP for the year 2024, attributing the alarming shortfall to heightened expenses associated with financing ongoing military efforts. The updated draft of the budget proposal, yet to be officially distributed, sheds light on the financial predicament gripping the nation

Despite a 0.1% decrease in the Consumer Price Index (CPI) for December, Israel concluded 2023 with a yearly inflation rate of 3%, precisely hitting the upper limit of the government's targeted range (1%-3%). This marks a notable slowdown compared to 2022, which saw a substantial 5.3% increase in prices

Kibbutz Beeri releases a statement confirming the murder of abductees Itai Sabirsky and Yossi Sharabi, who were being held captive by Hamas. Families express grief as Hamas releases video, falsely claiming Israeli forces' involvement. The IDF denies responsibility and launches an investigation

Recent data from the Central Bureau of Statistics (CBS) paints a complex picture of Israel's economic landscape in October, the month when the war broke out. The average salary for a salaried employee stood at NIS 12,492, showing a 6% increase compared to October 2023 but a noticeable dip from September's almost NIS 13,000. Adjusted for inflation, the average salary at constant prices was NIS 10,619, reflecting a modest 2.2% uptick from October the previous year

In a surprising move, Solaredge, a prominent player in the renewable energy sector, has unveiled plans for an extensive streamlining program, involving the layoff of 900 employees, with 550 job cuts in its home base, Israel. This amounts to a significant 16% reduction in the company's workforce, which currently stands at around 5,500 employees

In a tragic turn of events, Master Sergeant (res.) Uriel Aviad Silverman, aged 23, from Moshav Nahalim, fell in battle in the south of the Gaza Strip. The incident also left a reserve armor officer and a reserve fighter in Battalion 7421 seriously injured. Additionally, a reserve fighter in Battalion 466, part of the Shu'ale HaMarom formation (646), sustained serious injuries in a separate battle in the center of the Gaza Strip. The injured were promptly evacuated for medical treatment, and their families have been informed

Prime Minister Binyamin Netanyahu has drawn a red line on the possibility of reaching a new hostage deal with Hamas, emphasizing that agreeing to certain conditions presented by the terrorist organization would render the sacrifices of Israeli fighters in vain. Despite these assertions, sources in Jerusalem suggest ongoing efforts by Qatar and the United States to find compromise formulas for a potential deal

In a recent hearing at the Knesset's finance committee, Professor Amir Yaron, the Governor of the Bank of Israel, voiced apprehensions regarding the potential downgrade of Israel's credit rating. Prof. Yaron acknowledged the increased risk premium since October 7, emphasizing the necessity for the government to implement challenging measures in the 2024 state budget to address economic concerns

In a devastating turn of events, the Israel Defense Forces (IDF) spokesperson confirmed this morning that 21 reservist soldiers lost their lives in two serious incidents in the southern Gaza Strip. The fallen heroes include Major General (Res.) Matan Lazar, Maj. Gen. (res.) Hadar Keflok, Maj. Gen. (res.) Sergey Guntmacher, Maj. Gen. (res.) Elkana Yehuda Sepaz, Maj. Gen. (res.) Yuval Lopes, Major (res.) Yoav Levy, Major (res.) Nicholas Berger, Major (res.) Cedric Green, Sergeant Major (res.) Raphael Elias Moshiov, and Sergeant Major (res.) Barak Haim ben Walid

In the wake of escalating tensions between Turkey and Israel, a growing number of Israeli consumers are expressing concern about unwittingly purchasing products with Turkish origins. While the import of certain goods like tomatoes and vegetables from Turkey has been halted, many popular international brands continue to manufacture products in Turkish factories, raising eyebrows among Israeli shoppers