Tag Archive for Israel economy

Economic Minster Bennett: Independent Palestinian state likely to ‘wreck Israel’s economy’

Economy Bennett minister tells Habayit Hayehudi Knesset faction that Israel doesn’t need to fear boycotts, having survived them before.

 

The creation of a Palestinian state would destroy the Israeli economy, causing infinitely more problems than an economic boycott would, said Economy Minster Naftali Bennett on Monday, responding to the threat of sanctions if Israel fails to reach an agreement with the Palestinians.

Naftali Bennett.

Naftali Bennett, head of Habayit Hayehudi, speaks in Ashdod, Israel, Dec. 26, 2012. – Photo: AP

Addressing his Habayit Hayehudi Knesset faction, Bennett called on Prime Minister Benjamin Netanyahu to stand up to pressure to reach an agreement that would lead to a Palestinian state. Continue Reading »

Taglit-Birthright: The most successful Jewish program in the world

 

In Birthright’s 13 years, the program brought more than 350,000 participants to Israel from 64 different countries & infused $825 million into Israel’s economy.

 

Since it was launched in 2000, the Taglit-Birthright program has injected more than $825 million into the Israeli economy, according to the findings of an independent study conducted by the global accounting firm Ernst & Young, which were published on Wednesday.

A Birthright Mega Event in Jerusalem, May 9, 2012.

A Birthright Mega Event in Jerusalem, May 9, 2012. – Photo: Emil Salman

The State of Israel contributes $35 million a year to the program’s $110 million budget. The rest of the funding comes from private philanthropists, most prominently casino magnate Sheldon Adelson, the Jewish federations of North America, Keren Hayesod and the Jewish Agency. Continue Reading »

Unemployment in Israel at all time record low

 

Israel’s unemployment reaches a record low of 5.5%, according to govt’s Central Bureau of Statistics.

Housing prices rise by 9.4% this past year, making a cumulative jump of 77.4% since 2008.

Rent prices climb an average of 17% since January 2011.

By Zeev Klein

 

Continue Reading »

Continued Terror From Gaza Could Mean Higher Grocery Bills

Farmers in the Negev warn that continuing danger along Gaza barrier is damaging the local economy.

By Maayana Miskin

 

Terrorism from Gaza could mean higher grocery prices for Israelis, farmers from the Gaza belt area warned Thursday morning, speaking to Maariv/nrg.

Illustration: Iron Dome anti-missile system – IDF Spokesman

Farmers near Gaza were told Tuesday to stay out of fields near the Gaza security barrier. The warning followed a fatal terrorist shooting in the area.

 

Terrorists have targeted agricultural workers in fields near Gaza in the past.

Farmers argued that the fields in question – those located within one kilometer of Gaza – are used for some of their most valuable crops. Continue Reading »

Knesset passes groundbreaking law to break up huge conglomerates

 

By breaking up large conglomerates this cornerstone legislation aims to stimulate competition by halting pyramid structures controlling markets.

By Reuters

The Israeli parliament passed legislation this week aimed at improving economic competition by halting pyramid structures in companies and breaking up large conglomerates blamed for high living costs.

Knesset (Israel's Parliament)

The Knesset (Israel’s Parliament) under snow12 Dec 2013

The move will, over the next several years, reduce the amount of concentration of corporate power in Israel, one of the highest in the developed world. The government estimates that the country’s 10 largest business groups control 41 percent of the market value of public companies. Continue Reading »

Histadrut labor federation chief resigns

 

New leader to sit on top of Israel’s organized labor federation as Histadrut chief announces resignation following major policy successes &  diminishing personal political strength with leading Israeli party heads.

 

 

 

The Histadrut labor federation’s chairman announced on Tuesday he will leave the position he has filled since 2006 next year on February 1.

Ofer Eini

Ofer Eini. – Photo: Moti Milrod

Ofer Eini will step down in the middle of his third term, which be began in May 2012. He made his announcement to the heads of the various factions of the political coalition that runs the Histadrut. Continue Reading »

Bank of Israel governor Flug: Israel’s economy in good state

 

In her 1st public address since the gov’t approved her appointment as Bank of Israel governor, Dr. Karnit Flug tells PM’s Conference: ‘The growth rates in Israel are relatively high & the economy is in good condition compared to developed countries’

By Gilad Morag

 

Israel‘s growth rates are relatively high and the economy is in good condition compared to developed countries, Dr. Karnit Flug said Tuesday in her first public address since the government approved her appointment as the Bank of Israel’s new governor.

“Unemployment rates have dropped to a low level after going up during the crisis, but the output per worker is relatively low compared to the developed countries,” Flug told the Prime Minister’s Conference on Partnership and Growth, organized by the Authority for the Economic Development of the Arab, Druze and Circassian Sectors. Continue Reading »

Israel’s elderly are reported poorest in Western world

 

Prior to pensions & tax the poor are in great shape in relation to global situation. But after – the picture changes completely.

Taub Center report says 1/5th of Israel’s elderly live below the poverty level – 7 times more than in most developed countries.

By Omri Efraim

 

Death of the Israeli welfare state: poverty rates among the elderly in Israel are the highest in the developed world, with a huge margin in comparison to most countries. This is according to a new study by the Taub Center for Social Policy Studies in Israel published Tuesday.

Illustration (Photo: Avi Roccah)

Illustration – Photo: Avi Roccah

The research conducted by the center’s executive director, Professor Dan Ben-David, and researcher Haim Bleikh, shows that based on their disposable income (after welfare payments, national security benefits and taxes), 21% of Israel’s elderly live below the poverty line. Continue Reading »

IMF: Israel’s economy better than all other Western economies

Israeli economy estimated to grow 3.8% in 2013 & 3.3% in 2014, whereas in same 2 years, the U.S. to grow by 1.6% & 2.6%, and the eurozone by 0.4% & 1%.

By Zeev Klein, Reuters & Israel Hayom Staff

 

The Israeli economy is expected to grow by 3.8 percent in 2013 and 3.3% in 2014, the International Monetary Fund said on Tuesday. The fund’s economists pointed out that Israel’s economy was strong, stable and diverse.

Israel’s economy likely to outperform other Western economies in 2013 and 2014 – Photo: Rafael Ben-Ari

The IMF’s outlook is similar to the that outlined by the Bank of Israel, according to which Israel’s economy will have grown by 3.6% by the end of 2013 and will grow by 3.4% in 2014. Continue Reading »

Israelis perform more work-hours than counterparts in West

 

Latest Taub Center study publicizes new revelations on primary factors underlying Israel’s low labor productivity, cumbersome bureaucracy, longer working day and low capital investments.

Ynetnews

Israel’s labor productivity is among the lowest among developed countries, as shown in the soon to be published 2013 State of the Nation report by the Taub Center for Social Policy Studies in Israel. In addition, a labor productivity gap has been growing between the leading Western countries and Israel – with the G7 steadily pulling away from Israel since the 1970s.

Wages are highly dependent on the amount produced per hour – or what is commonly referred to as labor productivity. Continue Reading »

Survey: 34% of Israeli managers lack academic degree

New survey examining education of executives in Israeli labor market reveals 63% lack management degree. Only 1/3 of those with management degree believe it has given them tools to solve managerial challenges.

By Aviv Bertele

 

 

A survey examining the training of executives in the Israeli labor market reveals that some 34% of managers in Israel have no academic degree.

‘Studying is important, but managers need relevant tools’ – Photo: Shutterstock

In addition, 62.9% of executives don’t have a degree in management or business administration, and more than half of those who do hold a management degree only completed bachelor studies. Continue Reading »

Unemployment is Down in Israel…Again

In the face of ongoing problems in the world’s economy, the Israeli economy continues to do well with unemployment down again.

By David Lev

 

 

The Israeli economy continues to do well in the face of ongoing problems in the world economy. Israel’s unemployment rate remained a relatively mild 6.9% in May, the same as in April.

Experts said that the relatively stable employment situation was a sign that the Israeli economy was flexible and versatile enough to withstand the major fluctuations in the world economy – including the near-bankruptcy of several European countries (among them large importers of Israeli exports), continued weakness in the U.S., Continue Reading »

Israeli ministers consider legislating housing & job preferences for ex-IDF soldiers

New affirmative action legislation, proposed by coalition chairman Yariv Levin, would also include Israelis who’ve completed national service.

This comes in response to early start in job market already enjoyed by those who skipped  the army or national service.

 

Prime Minister Benjamin Netanyahu’s cabinet will decide on Sunday whether to endorse proposed legislation that advocates affirmative action for Israelis who have done military or national service.

IDF soldiers by Egypt border - Hershkovitz - Sep 21, 2012

Soldiers get a later start in their professional lives. – Photo: Eliyahu Hershkovitz

A law for the rights of citizens who have contributed to the state has been proposed by coalition chairman MK (Likud) Yariv Levin. Continue Reading »

Israel trying to deal with high poverty rating

Israel may have a strong & resilient economy, but according to the OECD, it also has the highest poverty rate of all developed nations, and no one feels that more than the poor Israeli children.

By Israel Today Staff

 

Despite Israel’s overall economic resilience and strong global market presence, which we have written on numerous times in the past, the Jewish state continues to struggle with high poverty levels.

Israel struggles with high poverty rating

Photo taken from Israel Today

A survey published by the Organisation for Economic Co-operation and Development (OECD) on Wednesday revealed that Israel has the highest rate of poverty among all developed nations. Continue Reading »

Israel found to be the poorest of all developed countries

“Unfortunately, (Israel’s) economic plan includes things that create poverty instead of solutions to get out of poverty,” said Opposition leader Shelly Yacimovich (Labor)

By JPOST.COM STAFF, REUTERS

 

Israel has the highest rate of poverty of all developed countries, according to a report released by the 33-nation Organization for Economic Cooperation and Development (OECD) on Wednesday.

A homeless man lies on a sidewalk – Photo: Marc Israel Sellem

The OECD found that Israel’s poverty rate stands as almost 21%.

It also put Israel at fifth place among countries with the widest gaps between rich and poor, after Chile, Mexico, Turkey and the United States, while Iceland, Slovenia, Norway and Denmark were the most egalitarian societies.

Continue Reading »