The Ministry of Finance reported a deficit of NIS 300 million for the 12 months ending March 2023, which accounts for 0.01% of GDP. This is a significant change from the previous nine months, which saw the country report fiscal surpluses. The Accountant General...
Moody's, an international credit rating agency, has maintained Israel's credit rating at A1 but has downgraded its credit outlook from positive to stable. This is the first time since the Covid pandemic that Israel's credit outlook has been lowered, and it comes...
New figures released by Israel’s Central Bureau of Statistics (CBS) show that housing prices have dropped for the first time since 2020. The figures also reveal that inflation is showing signs of slowing down. The CBS reported that home prices fell 0.2% in January and...
The shekel-dollar exchange rate has been in flux, particularly in recent days. Though the Israeli stock exchange has been quiet due to the Passover holiday, this has coincided with a sale of shekels, causing the local currency to approach 3.70 shekels per dollar. This...
According to the head of the International Monetary Fund (IMF), Kristalina Georgieva, the global economy is set to grow at approximately 3% over the next five years, the slowest pace since 1990. Speaking ahead of the IMF's annual meeting in Washington, Georgieva noted...
As expected, the Bank of Israel has raised its interest rate by 0.25% to 4.5%. It is the ninth increase in the space of twelve months and the highest level since the 2008 global financial crisis, reflecting the bank's hawkish approach to containing rising inflation....
In a surprise move, Saudi Arabia, Iraq and other OPEC+ oil producers announced on Sunday that they will further cut oil output by around 1.16 million barrels per day. The decision aims to stabilize global oil prices, which had been falling due to an oversupply of oil...
The recent news of the Prime Minister's decision to freeze legislation has had a positive impact on the Israeli market, with the shekel climbing to a one and a half month high against the US dollar. This marks the seventh consecutive day that the shekel has...
Israel is currently facing a challenge in terms of falling disposable income, which could have a significant impact on the economy in the coming months. According to the Central Bank's Information and Statistics Division, about 50% of households are in the red on...
Israel's tech industry has been making waves around the world for quite some time now, and the latest report from Dealroom shows just how far it has come. Tel Aviv, Israel's largest tech hub, has been ranked second in Europe in terms of its start-up ecosystem, with a...