September 16, 2019
Bottom line: April-June 2019 saw one of Israel’s largest-ever quarterly current account surpluses. This was achieved despite falls in the value of trade in both goods (smaller deficit) and services (smaller surplus), from the record levels posted in both of these in the first quarter of 2019. The key to the large surplus was the $600m surplus on primary income – highlighting the trend underway in this area in recent years, from deficit to surplus. I expect this to continue.

» Read more

Budget data for January-August 2019

September 15th , 2019
Bottom line:
The budget data for August, as well as the data for the first eight months of 2019, confirm that Israel’s fiscal situation is deteriorating. The less-bad news is that the deterioration seems to have stabilised, at least temporarily.  Spending seems to be fairly under control, but the rate of increase in revenues is slow and this is driving the deficit higher. All this is happening against a background of paralysis in fiscal policy, caused by the absence of an elected government and Knesset.

» Read more

TLR 193- Hot and Getting Hotter

August 30, 2019
This issue was intended to be focused on the economy, highlighting the growing problems in key areas of policy, as well as the major social and economic issues that are of concern to most voters, but are not being discussed in the election campaign. However, as so often in Israel, urgent developments demand immediate attention and thus take precedence over longer-term issues. The discussion of fiscal and monetary policy, of stagnant exports and of the woes of the health, welfare and education systems will be deferred, but not for long – since none of those problems will disappear, but rather they will wait to greet the next government and demand its attention.

» Read more

The ostrich farm

August 2, 2019
“If he becomes Prime Minister, I’m out of here the next day”.

Commonly-heard comment from British Jews.

The ‘he’ referred to in the quote is not Boris Johnson, the country’s new premier — but rather Jeremy Corbyn, the leader of the Labour party. It is Mr Corbyn, not Mr Johnson, from whom British Jews are threatening to run away.

» Read more
1 4 5 6 7 8 92