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ISRAEL AT WAR - DAY 395
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budget deficit
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Explainer
Sharon Wrobel
Israel’s 2025 war budget squeezes disposable income of working-class households
Government drops plans to freeze welfare benefits and tax ‘advanced study’ funds, instead wants to raise National Insurance payments while barely cutting coalition funds
Explainer
Israel’s 2025 war budget squeezes disposable income of working-class households
By
Sharon Wrobel
Fiscal deficit climbs to 8.5% as state continues to shell out for war effort
By
Sharon Wrobel
Treasury proposes to cut benefits, hike taxes for lowest earners to fund war
By
Sharon Wrobel
and
Sam Sokol
November 3, 2024, 11:29 pm
Israel’s 2025 war budget squeezes disposable income of working-class households
Government drops plans to freeze welfare benefits and tax ‘advanced study’ funds, instead wants to raise National Insurance payments while barely cutting coalition funds
By
Sharon Wrobel
October 15, 2024, 4:49 am
Treasury proposes to cut benefits, hike taxes for lowest earners to fund war
Arrangements Law also includes measures taxing advanced study fund and pension contributions; the ‘government is going to hit you in the savings,’ warns Liberman
By
Sharon Wrobel
and
Sam Sokol
October 10, 2024, 6:14 pm
Fiscal deficit climbs to 8.5% as state continues to shell out for war effort
Deficit climbs for sixth month above 2024 government budget ceiling of 6.6%, as spending on the war with Hamas and intense fighting with Hezbollah tops NIS 103 billion
By
Sharon Wrobel
October 9, 2024, 8:13 pm
Central bank cuts growth prospects, holds rates as war expected to last into 2025
Bank of Israel Governor Amir Yaron urges the government to act on passing the 2025 budget with responsible austerity measures and policies to uphold the ‘economy’s robustness’
By
Sharon Wrobel
October 7, 2024, 6:06 pm
A year of war saps Israel’s borrowing strength, while costs balloon
Foreign investors reduce holdings of local bonds, some raise concerns over Israeli assets, as the country grapples with rising cost of borrowing to finance high war spending
By
Reuters
and
ToI Staff
September 29, 2024, 8:42 pm
Moody’s drastic downgrade will have ripple effect on war-torn consumers and taxpayers
A lower rating raises credit costs for the government, businesses and households; translates into higher taxes and prices, reduced disposable income; also impacts public savings
By
Sharon Wrobel
September 28, 2024, 2:34 am
Moody’s lowers Israel’s credit rating for 2nd time this year, amid Hezbollah escalation
Agency says Israel has no ‘exit strategy’ from conflict, which would help calm investors, and ‘no longer expects a swift and strong economic recovery’
By
Sharon Wrobel
September 11, 2024, 7:57 pm
Israel budget chief warns about dangers of spending limit breaches to economy
Yogev Gradus urges the government to offset more spending with budgetary adjustments as Israel could be facing another downgrade and even higher costs to fund the war
By
Sharon Wrobel
August 19, 2024, 4:40 am
Netanyahu, Smotrich say they’ve agreed to pass 2025 state budget by year’s end
The two make the announcement after meeting without top Treasury officials who oversee the matter
By
ToI Staff
August 13, 2024, 10:53 am
As politicians dither, Treasury prepping alone for NIS 25 billion cut to 2025 budget
Amid expectations for a delay in governmental approval of next year’s fiscal plan, Finance Ministry officials working on tax hikes and spending cuts to avert more rating downgrades
By
Sharon Wrobel
August 13, 2024, 5:05 am
Fitch downgrades Israel’s credit rating, warning war could last well into 2025
Credit rating agency also keeps outlook negative, meaning further drop possible, says ‘political fractiousness and coalition politics’ risk hampering essential corrective measures
By
Reuters
and
Sharon Wrobel
August 8, 2024, 7:07 pm
Fiscal deficit widens to 8.1% as state continues to shell out billions on war effort
Deficit climbs for fourth month above 2024 government budget ceiling of 6.6%, as spending on the war with Hamas reaches almost NIS 90 billion
By
Sharon Wrobel
July 16, 2024, 10:52 am
Netanyahu kicks off 2025 high-level budget talks as war costs push up deficit
Senior economic officials including Bank of Israel governor and finance minister discuss spending, with Smotrich under pressure to maintain fiscal responsibility
By
Reuters
July 10, 2024, 7:37 pm
Top tech investor: ‘If Israel becomes less good to live in, people will leave’
Shlomo Dovrat warns weakness of state institutions and lack of sense of security threaten Israel’s tech standing in the global arena and its prospects for economic growth
By
Sharon Wrobel
July 4, 2024, 10:44 pm
Higher VAT hurts poor and fuels inequality, Treasury report shows ahead of tax hike
Value Added Tax, levied on goods and services, is set to rise from 17% to 18% in January 2025 to help the government rein in a ballooning budget deficit amid growing war costs
By
Sharon Wrobel
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