Although there has been an increase in ultra-Orthodox students entering academic institutions, an ultra-Orthodox man that has completed 19 years of yeshiva schooling is as prepared for the Israeli job market as a man who has completed only 10 years in the traditional public school system.
By Adir Yanko
Bank of Israel warns ultra-Orthodox education deficiencies will impact the economy’s ability to grow.
In a special report published Sunday the Bank of Israel looked at advancing the standard of living by increasing Israel’s productivity and determined that ultra-Orthodox men are under educated.
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Rabbinical School Jerusalem – Photo: Roylindman at English Wikipedia.
The $158.3 billion owed Israel will be added to the state’s coffer’s foreign currency reserves now at over $273 billion which could help Israel contend with potential local and/or global financial developments.
• Central Bureau of Statistics also report foreign investment in Israel also up, reaching $20.5 billion.
By Zeev Klein
Israel is owed a record $158.3 billion in debts from countries around the world, according to figures published by the Bank of Israel and Central Bureau of Statistics on Monday.
This amount will be added to the BOI’s foreign currency reserves, which as of early 2019 stood at $115 billion, such that the bank’s “financial depth” will now stand at over $273 billion. Continue Reading »
It’s a good year: The rise of 4.4% per capita GDP along with negative inflation over the past 3 years is demonstrated by a national buying spree with record car purchases, real estate deals and vacations abroad for Israelis.
By Zeev Klein
The past three years have seen Israel’s per capita GDP rise by a total 4.4%, along with negative inflation of 0.8% – which together mean a dramatic increase in the quality of life in Israel, figures published by the Bank of Israel show.
According to the bank data, the past three years have seen a record number of close to 1 million new car purchases and the purchase of a record number of real estate investment properties and new homes, as well as record numbers of vacations abroad, with some 4 million Israelis jetting off to foreign destinations annually. Continue Reading »
Israel’s economy surges with a growth of 4% since the final months of 2016, even after a Bank of Israel forecast of a mere 2.8% growth.
Israel’s economy shot up in the final three months of 2016 and looks set to have grown annually by 4 percent, easily outstripping the central bank’s expectations.
It came on the back of robust exports, but also increased consumer spending.
Bank of Israel, in Jerusalem – Photo: Wikimedia Commons/Ester Inbar
On an annualized basis, gross domestic product soared 6.2 percent in the fourth quarter, the Central Bureau of Statistics said on Thursday, as it also revised up the annualized third-quarter 2016 growth estimate to 4.2 percent from 3.6 percent. Continue Reading »
Looking Good: Israel’s Central Bureau of Statistics reports number of employed Israelis has reached 3.64 million, for an all-time high of 60.9%.
• Bank of Israel leaves interest rate unchanged at 0.1%, acknowledging economy is “growing at moderate rate” with Consumer Price Index up 0.6%.
By Zeev Klein
Unemployment in Israel has fallen to an all-time low and the number of employed Israelis has reached an all-time high, the Central Bureau of Statistics said Monday.
An Israeli employment office – Photo: Yehoshua Yosef
According to the bureau’s data, the April jobless rate was just 4.9%, below the psychological threshold of 5%. Continue Reading »
Bank of Israel’s new 50 shekel banknote presented ahead of its entry to circulation, features the likeness of Hebrew poet Shaul Tchernichovsky.
By Ari Yashar
The Bank of Israel on Wednesday released the first samples to the Israeli market of its new 50 shekel (just under $15) banknote that is posed to enter circulation.
Front side of New 50 shekel note – Courtesy of the Bank of Israel
Training was held in Jerusalem to prepare businesses to recognize and accept the bill and to reduce confusion as the bill enters common usage. Specifications were provided so that vending machines and other devices will be calibrated in advance to accept the note. Continue Reading »
New policy brings Israel in line with most countries like Switzerland, that have succumbed to U.S.pressure, forcing many Americans to have already withdrawn their money.
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The Bank of Israel Sunday advised Israeli banks to begin gearing up to provide information about their U.S. clients to U.S. tax authorities, as provided in the U.S. Foreign Tax Compliance Act.
The headquarters of Israel’s central bank stands in Jerusalem – Photo: Bloomberg
The statement was issued by the central bank in an effort to ensure that Israeli banking institutions will be ready to comply with FATCA when it goes into effect, in July.
Dr. Karnit Flug, the Bank of Israel Governor, believes a tax increase may be required to meet needs created by growing demographic trends in Arab and haredi sectors.
United Torah Judaism MK calls Flug’s comments “incitement.”
By Hezi Sternlicht, Zeev Klein, Yehuda Shlezinger
Current demographic trends could cause Israel’s economy to regress in terms of employment rates, Bank of Israel Governor Dr. Karnit Flug warned Monday.
Bank of Israel Governor Dr. Karnit Flug – Photo: Lior Mizrahi
Flug, speaking at a Central Bureau of Statistics seminar, said that “the makeup of the population is expected to change, with greater weight comprised by the Arab and especially the haredi sectors.” Continue Reading »
The Bank of Israel presents a new set of bills amid accusations of cultural discrimination, that feature the likenesses of only famous Ashkenazi poets.
A stack of shekel bills. – Photo: Moti Kimche
The new bills are to enter circulation at the end of 2013. Their designs feature the likenesses of famous Hebrew poets. Criticism has been aired at the selection of the poets, who are all Ashkenazi Jews.
According to the plan that Bank of Israel Governor Stanley Fischer presented to the cabinet, Shaul Tchernichovsky is to feature on the new NIS 50 note, which will be green. Continue Reading »