Unparalleled success in raising $ 5 billion - a billion of them for 100 years • Despite the plan, at the bureau of independent and business organizations, angry: "The grant we were promised is a joke"

Since the government announced the NIS 80 billion aid package to the economy, efforts have begun to find the budgetary sources for this.

Statement by Prime Minister Benjamin Netanyahu and Director General of the Ministry of Health // Photo: GPO

The Treasury quickly issued a bond issue Tuesday night (Israel Clock), without publishing its planned borrowing scope. Insurance companies, etc.) The underwriters who accompanied the offering, Barclays, Bank of America Securities, Citibank and Goldman Sachs, both landed when they first raised $ 100 billion in $ 100 billion in state history. 30 years at 3.875% and another $ 2 billion for 10 years at 2.75%.

In June 2019, the country successfully issued 50-year bonds of only half a billion euros at only 2% interest, but relative to today's market conditions this offering is also considered very successful. Certainly, Israel's success in dealing with the Corona crisis so far has contributed to this success, as well as Israel's credit rating, its debt-to-GDP ratio and the economic stability it has demonstrated over the past decade. Global market conditions, by which institutional dilution of shares has also helped the attractiveness of the government bond, which is considered a relatively solid channel.

In the meantime, discussions on the finance committees and the special committee on dealing with the Corona virus were ongoing yesterday regarding the implementation of the program. At the Corona Commission, the winds were furious when the Deputy Commissioner for Budget at Treasury, Assaf and Sargez said that while the first grant would be given before Passover, it made it clear that the grants for the self-employed would be taxed. The Israel Independent and Business Bureau responded: "This grant is a joke, it is perforated like Swiss cheese. We require unemployment benefits like salaried employees, we have no other blood." The president of the Tax Advisers' Bureau said in a hearing that "the Treasury plan will bring the business sector to ruin and anarchy." Fox Group CEO Harel Wiesel said: "Business owners in the streets and malls are currently living out of hand. The real solution is instant loans for everyone without a bureaucracy. "

The Finance Ministry's CEO, Mordechai Cohen, said that "the exemption from property tax for NIS 3 billion will soon be settled. We call on the authorities to take relief so that the payments will be graded later this year. "In the case of the social workers, Cohen added that 60 authorities did not define the social workers as essential workers, contrary to the Ministry's instruction.