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Bank of Israel chief: Current COVID wave will cost Israel $800 million every 20 days

Governor of the Bank of Israel Amir Yaron attends a Finance committee meeting in the Knesset in Jerusalem, on June 23, 2021. (Yonatan Sindel/Flash90)
Governor of the Bank of Israel Amir Yaron attends a Finance committee meeting in the Knesset in Jerusalem, on June 23, 2021. (Yonatan Sindel/Flash90)

The current COVID outbreak will cost Israel some NIS 2 billion ($800 million) every 20 days, Bank of Israel Governor Amir Yaron tells the Knesset Finance Committee.

Yaron says the damage will come from decreased consumption and from employees quarantining or sick with the virus.

“Most estimates are of a relatively short wave — a number of weeks — that is why the cost to the economy per confirmed coronavirus case is not of macro-economic proportions. In such a scenario, pinpoint compensations focused on sectors that have been hurt should be continued,” Yaron adds, according to a translation by the Reuters news agency.

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