Smotrich says Finance Ministry ready to address economic fallout of Israeli attack on Iran

Finance Minister Bezalel Smotrich says Israel is prepared to address the economic aspects of the campaign against Iran’s nuclear and missile programs that was launched early Friday morning.

Smotrich says the Finance Ministry is “fully prepared to support the war effort both at the front and at home, ensuring maximum continuity of the economy and financial systems.”

Following an emergency meeting of senior officials earlier today, the Finance Ministry says it will continue to “manage the government’s financial operations in an orderly fashion, including payments to suppliers, salaries for public sector employees and the full servicing of government obligations — both domestically and in international markets.”

The Israel Tax Authority continues to operate as usual at border crossings, seaports and airports, in accordance with operational guidelines and activity levels, the ministry says.

“The Israeli economy is strong and capable of successfully withstanding the current wartime situation,” says Accountant General Yali Rothenberg.

At the same time, the Finance Ministry remarks that “it is still too early to fully assess the economic impact of the ongoing events,” adding that it has proactively prepared for various scenarios, including the possibility of an escalation with Iran.

“Our professional economic assessments indicate that the impact is expected to be temporary and within a range that the Israeli economy is well-positioned to handle,” it says.

Separately, the Bank of Israel states that it is “fully prepared and ready in all domains under its responsibility, including the proper functioning of financial markets, the banking system and payment systems.”

The central bank “owns all necessary tools to support business continuity for the Israeli economy.”