The cost of the closure measures approved by the government will be about NIS 6.5 billion

The cost of the closure measures approved by the government will be about NIS 6.5 billion. This emerges from an analysis by the Chief Economist's Division of the Ministry of Finance, headed by Shira Greenberg. According to Ministry of Finance officials, the cost of these measures is about NIS 8 billion lower than the closure approved by the cabinet last week.
One of the reasons for the expected decrease in cost is the decision from the evening to keep the workplaces open except for receiving an audience; This is in contrast to the cabinet's decision over the weekend that jobs in the private sector will remain closed.
The Ministry of Finance estimated over the weekend that the longer the closure lasts and the more severe it is, the closer the contraction rate of the economy this year will be to the stricter scenario - minus 7.2% (compared to minus 5.1% in the scenario where there will be a gradual recovery).
The Ministry of Finance also estimated over the weekend that if the morbidity does not stop and the government decides on a more severe closure after the holidays, the cost will be NIS 10-11 billion a week, and the deficit will reach 13.4% this year. Even higher, if there is a further decrease in activity that will lead to a decrease in tax revenues and an increase in expenses of the assistance program.