Treasury Minister Betzalel Smotrich
The Treasury Minister presented a report to the Finance Committee regarding the fiscal and economic trends predicted for 2024. This was required by law in the framework of implementing the budget of the upcoming year which was already approved alongside that of 2023.
A document was appended to it with an economic analysis made by the Department of the Chief Economist and also the Budgetary Department in which facets of the national growth are shown. This includes income, expenses and deficits, inflation, credit rise and data about the employment market as compared to international statistics and in comparison with forecasts which served to adopt the budget to reality in the first half of 2023 and with the forecasts being made for 2024.
This report shows that the Israel economic picture is better that most countries in the world. Several factors are at play: prolonging the period of restraining inflation, high credit allowance and the weakening of the shekel. Some changes are liable to influence government expenses in 2024.
The Treasury Minister completes his letter with criticism against the Leftist protest against the government who are attempting to deal a harsh blow to the economy, noting that their impact till now has been minimal.
"The Israeli economy shows relative stability even during periods of world crisis. Macro data of the Israeli economy is good and strong. This power continues despite the irresponsible campaign being conducted these past months attempting to deliberately hurt the economy, in the political battle against the Right and the vital amendments which the government seeks to make in the judicial system. Huge powers and with massive budgets and media backing are defaming Israel's good name in the world economy with gross lies and fear-mongering, doing everything in their power to create panic and negative sentiment regarding the economy.
"Up till now, their effect has been negligible. The free market is smarter than was believed by the campaign masterminds. The facts, as well as international comparisons, show that the Israeli economy is strong and that our economic policies are correct, professional and importantly, stable and controlled.
"I estimate and hope that these trends will continue, b'ezras Hashem, allowing us to continue to lead the Israeli economy to growth and prosperity, standing up to the many with many challenges facing us at all levels."
