(August 10, 2020 / JNS) Bank of Israel Governor Amir Yaron has called on the government to pass the national budget as soon as possible to stave off another round of Knesset elections as the country grapples with the health and economic repercussions of the coronavirus pandemic.
In a statement on Sunday, he said “the changing morbidity trends and developments in Israel and around the world are causing great uncertainty regarding employment, businesses’ income and government intake and expenses. The government must move forward as quickly as possible in determining a clear outline for the state budget and other economic decisions needed at this time.”
It is vital, he said, that there be “stability in the conduct of the government and an orderly decision-making process.”
“Reducing the political uncertainty would contribute to the confidence of the markets in the Israeli economy and improve the ability to deal with the [COVID-19] crisis,” he said.
Yaron’s statement comes in the midst of a stalemate 0ver the budget between coalition partners Likud, headed by Prime Minister Benjamin Netanyahu and Blue and White, led by Defense Minister Benny Gantz. Gantz is accusing the Likud of violating the coalition agreement, which stipulates the signing of a two-year budget, for 2020 and 20121.
Netanyahu has been pushing for a one-year budget, which would effectively cover only the last quarter of the year, as a result of the uncertainly created by the coronavirus crisis.
According to the coalition deal, if the state budget is not passed by Aug. 25, the Knesset will automatically dissolve and new elections scheduled.
Support Jewish Journalism
with 2020 Vision
One of the most intriguing stories of the sudden Coronavirus crisis is the role of the internet. With individuals forced into home quarantine, most are turning further online for information, education and social interaction.
JNS's influence and readership are growing exponentially, and our positioning sets us apart. Most Jewish media are advocating increasingly biased progressive political and social agendas. JNS is providing more and more readers with a welcome alternative and an ideological home.
During this crisis, JNS continues working overtime. We are being relied upon to tell the story of this crisis as it affects Israel and the global Jewish community, and explain the extraordinary political developments taking place in parallel.
Our ability to thrive in 2020 and beyond depends on the generosity of committed readers and supporters. Monthly donations in particular go a long way in helping us sustain our operations. We greatly appreciate any contributions you can make during these challenging times. We thank you for your ongoing support and wish you blessings for good health and peace of mind.