search

Israel can still bounce back economically if lockdown eases soon, says tax chief

Tax Authority chief Eran Yaakov warns in an interview with Hebrew language website Ynet that the state could lose tens of billions of shekels in tax revenues if the current lockdown continues.

Stating that the state lost NIS 6 billion in tax revenues in March alone, Yaakov warns that worse is yet to come, but strikes an optimistic note saying that if Israel begins to exit the lockdown after Passover, the economy can still return to the strong footing it was on prior to the crisis.

“The crisis came with Israel in a very good state and this has allowed us to deal well with the situation,” Yaakov tells Ynet. “We were in full, historical, employment, and our debt-to-GDP ratio was a very comfortable 60% and that allows us more freedom in helping businesses and bridging their cash flow dificulties.”

Never miss breaking news on Israel
Get notifications to stay updated
You're subscribed
image
Register for free
and continue reading
Registering also lets you comment on articles and helps us improve your experience. It takes just a few seconds.
Already registered? Enter your email to sign in.
Please use the following structure: example@domain.com
Or Continue with
By registering you agree to the terms and conditions. Once registered, you’ll receive our Daily Edition email for free.
Register to continue
Or Continue with
Log in to continue
Sign in or Register
Or Continue with
check your email
Check your email
We sent an email to you at .
It has a link that will sign you in.