At the end of the meeting of the ministerial committee to examine the economic aspects of the virus, it was decided to establish the team headed by the CEO of the firm Shai Ba'avad. • Additional members of the committee: Head of the Budget Department, the Accountant General and the Treasury Department

• A special treasury team will examine the effects of the Corona // Photo: Joshua Yosef

The Finance Ministry is not waiting for the results of the 23rd Knesset: Minister Moshe Kahlon yesterday convened a special ministerial committee to examine the economic aspects of the Corona virus outbreak. At the end of the discussion, it was decided to establish a staff in the Ministry of Finance to examine the relevant economic and economic aspects as a result of the outbreak of the virus.

The team will be headed by Treasury Director General Shai Babad, and will be members of the Budget Department, Shaul Meridor, Accountant General Roni Hezekiah and Treasury Attorney General Assi Messing. The staff will be joined by relevant government office representatives, as appropriate and necessary. The team will formulate recommendations on this matter and submit it as soon as possible to the Ministerial Committee.

At the Cabinet meeting in Tel Aviv, the Governor of the Bank of Israel participated Prof. Amir Yaron, Minister of Economy Eli Cohen, Minister of Education Rafi Peretz, Minister of Construction and Housing Yifat Shasha-Baton, Minister of Agriculture Zahi Hanegbi, Minister of Tourism Yariv Levin, Minister of Labor and Welfare Ophir Acunis, Minister of Transport Bezalel Smutrich and Deputy Minister of Finance Yitzhak Cohen.

Also in attendance were the Budget Commissioner Shaul Meridor, Accountant General Roni Hezekiah, Salary Commissioner Kobi Bar Natan, Treasury Attorney General Assi Messing, and Secretary of State Tzachi Braverman.

Damage to the airlines

At the level of economic damage, Israeli airlines' losses are estimated at between $ 50 million and $ 70 million. The damages to the tourism and hotel industry could mean much greater sums. Chief economist Shira Greenberg estimates the damage to the Israeli economy in an optimistic scenario of NIS 3 billion in product loss; In the pessimistic scenario, NIS 14 billion is loss of product.

There is also an upbeat scenario whereby the Israeli economy will grow at a high rate due to the Corona eruption crisis, which may increase demand for Israeli produce, and increase agricultural exports - including China and the Far East.

Israeli high-tech should not be harmed because it can open deals remotely. In addition, investments in the manufacture of a vaccine or a drug against the corona virus can serve as a lever for Israeli pharmaceutical companies.

Finance Minister Moshe Kahlon said: "The Israeli economy is a strong economy that we believe can sustain the Corona crisis. However, the Prime Minister has instructed us to prepare for every scenario and reduce to the minimum possible harm to businesses and workers."