Netanyahu ordered to formulate an economic emergency plan this week • Evaluation: An additional NIS billion will be transferred to fight the virus • "We are in credit distress - it's time to inject money into the market"

Prime Minister Benjamin Netanyahu has already instructed in the coming days to submit a strategic plan for managing the economy, as well as another updated package of broad and significant relief, including assistance to self-employed, employees, businesses and households.

Economics panel hosted by Eran Bar Tal

The guidance was given at the end of an economic consultation with Finance and Economy Ministers, the head of the NSC, the Governor of the Bank of Israel, the CEOs of the Ministries of Finance and Finance, the head of the National Economic Council and other parties. Some of the programs of the aid package will be presented for approval by the Knesset.

This is the fourth "emergency plan" to fight Corona over the past three weeks. Treasury officials say the ministry will allocate at least NIS 4 billion to budget unemployment benefits, and a further NIS 1 billion for special needs to combat the virus. It should be noted that to date, the Treasury has allocated more than NIS 150 million to the health system.

Compensation mechanism

Prime Minister Ehud Olmert's directive was issued in light of another High Court petition filed yesterday to compel the government to compensate businessmen affected by the crisis. This time it is a petition from various business sector organizations calling on top judges to "force the government" a compensation mechanism following the corona.

These organizations employ and represent tens of thousands of employees, including the Association of Halls and Event Centers, the Association of Travel Agents, the Bureau of Tax Advisors, the Association of Strong Restaurants Together, Arkia, Israir, "I Shulman" and more.

At the same time, the organizations presented an "emergency plan" designed to "save the business sector". The program includes freeze status and existing credit facilities for the coming quarter, including loans, credit and mortgages; Deferral of compulsory payments to institutions; Rejection or exemption from property, electricity and water payments and deferred rent payments.

In addition, organizations require a free hand in taking workers on leave without pay, relieving parents of non-teaching employees, rejecting employee payroll payments, recognizing loans granted by the state as grants, and granting grants or credit to households. It should be noted that the organizations do not specify the total cost of the program.

Meanwhile, 10,321 jobseekers were registered with the Employment Service, and 521,109 new enrollees were registered in early March - 90% of them in the US. Rami Graur, CEO of the Employment Service, said: "We are seeing a slight slowdown today in our enrollment, which is probably due to From the "first wave" exhaustion, but since the crisis is still early, more sectors and industries may cause more waves. "

"Emergency Government Must"

Manufacturers Association President Dr. Tomer told Israel Today that "We are in credit distress, and it is time for the government to inject money into the market. The Governor of the Bank of Israel, Prof. Amir Yaron, whose role he is to be responsible for, is also saying repeatedly that the market needs money.

After all, the government will have to raise a lot of money, so why let us sink in? "The government's loan fund says Tomer says," This credit fund is important, but it is intended for businesses up to NIS 100 million, but it should also be extended to medium businesses. " An emergency government immediately, which will pass an emergency budget "to continue investing in infrastructure like rail, light rail and more. You have to continue with the investment center budget and even increase it, because you have to think about the day after. "

"I say most clearly - we must have an emergency budget and a broad emergency government. If there was a war today, I guess it would have been very easy to set up an emergency government so that it would have money to refuel aircraft and protect civilians."