As Israel widens Gaza ground offensive against Hamas, market expects fighting will be limited to the south; last week shekel hit weakest level in 11 years
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In letter to Prime Minister Netanyahu and Finance Minister Smotrich, senior economists call for changing budget priorities and stopping previously planned discretionary allocation
The post Warning of crisis, 300 economists urge government to halt non-war spending appeared first on The Times of Israel.

Survey of the sector since the Israel-Hamas war broke out shows more than 70% of startups postponing or canceling orders and projects, others grappling with lack of financing

Central Bank sees economy slowing to 2.3% in 2023 from previous forecast of 3%, assuming that the war will be contained in the south on the Gaza border in the fourth quarter

Finance minister says businesses throughout the country who have been hurt during the ongoing war will receive compensation; state deficit will widen

Ratings agency warns of increased risk of a large-scale military conflict, if Hezbollah and Iran join the fighting, which could pull down Israel's A+ credit rating

Currency’s weakness comes as war rages, even after Bank of Israel announced plan to intervene in the foreign exchange market to try and contain sharp shekel moves

Major stock indices drop more than 6%, bank and insurance stocks suffer losses of around 9% after Hamas assault kills hundreds of Israelis

Figures show government spending has risen 9.4% since start of the year, while state income from taxes declined 4.3% year-on-year, led by sharp drop in real estate taxation

Finance Minister Bezalel Smotrich selects civil service veteran, subject to government approval