Israel’s Finance Ministry on Tuesday issued an updated projection for the economic impact of the nationwide coronavirus lockdown currently in effect, from NIS 20 billion ($5.7 billion) down to about NIS 12 billion ($3.4 billion).

According to Finance Ministry Chief Economist Shira Greenberg, the government’s decision to include more industries in the list of “essential” occupations, effectively allowing them to operate in a reduced capacity rather than shuttering them, has mitigated the lockdown’s overall cost to the economy.

She did, however, caution that any extension of the lockdown will require the Treasury to again revise its projections.

To further mitigate the economic fallout of the lockdown, the ministry’s Budgets Division has been able to broker a deal with the Histadrut labor federation according to which all nonessential public sector employees will go on organized leave for the duration of the High Holidays.

This article first appeared in Israel Hayom.

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.