TLR 178: Being for the Benefit of Mr. K

August 24, 2016
This issue has one focus, namely the government budget. However, in order to explain the extraordinary phenomenon of the biennial, or two-year, budget that is being legislated, I have delved into the weird and wonderful history of this Israeli invention, which dates back all the way to 2009. Like most things first employed in economic policy during and after the global financial crisis, no-one would have believed that this ad hoc and emergency measure would take on a life of its own and becoming a semi-permanent fixture of economic management. Yet here we are, with the most carefully-planned version of a biennial budget yet to be attempted.

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TLR 176: Chugging along nicely — but the engine needs servicing

April 2, 2016
This issue reviews both the current strength of the Israeli economy and the problems facing it.

The current strength is the ‘good news’ part of the story, especially since the economy performed better in 2015 than had been expected and because the main positive developments came in the latter part of the year and seem to be extending into 2016. That makes the first part of the analysis — “Jam today” — a smooth and pleasant ride.

Problems are, by definition, less pleasant

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