This is in contrast to previous forecasts of about NIS 18 billion. • Since the beginning of September, 55,000 workers have been expelled from the IDF. • Supermarket loads: "People store food"
Dizengoff Center in Tel Aviv, yesterday
Photo:
Coco
Previous estimates by the Ministry of Finance, but a week ago, there was talk that the cost to the economy of the closure during the Tishrei holidays will be "only" NIS 19-18 billion.
But yesterday, the Treasury threw more extreme and serious estimates - up to 20 billion shekels in two weeks of closure and a "tightened" routine of two more weeks.
The financial crisis is clear.
A recent survey by the Central Bureau of Statistics among business owners found that at least 20% of them claim they will not last if the situation continues for the next three months.
At least 55,000 more workers have been laid off since the beginning of September, precisely after the CBS published encouraging data at the end of August, according to which the unemployment rate fell below 10%.
The Treasury has accordingly published an "update of the Expenditure Framework for 2020", which was written on the basis of a partial closure and a gradual exit from the corona starting next year.
The current scenario speaks of a 7.2% decline in GDP this year and a return to the 2019 GDP level as early as 2021;
In the next two years, the assumption is of 8% growth in the three years to 2023. It is doubtful whether this forecast is correct even after the tightening of restrictions.
Netanyahu on the possibility of tightening the guidelines // Photo: GPO
The Treasury now expects a deficit of 13.4% of GDP this year, but also 9.5% next year and 5.7% and 5.3%, respectively, in the two years after - far from the threshold we have known so far - 2.9%.
Work Retention Plan
The rapid negative developments on the part of the health care system indicate that the Treasury was now ready to sign off on these challenging data as well, but the more pessimistic scenarios are already outlined in the forecasts and look even more formidable.
At the same time, Finance Minister Israel Katz formulated a plan for the preservation of work in the private sector during the closure period, which he seeks to pass in the cabinet.
Meanwhile, consumers are preparing for increased shopping that was felt from yesterday afternoon.
Businessman Rami Levy said that "in the afternoon we began to feel strong movement at 40% -30% compared to a normal day.
People are preparing for closure and atonement.
There is no shortage. "
Yossi Shalev, VP of Trade and Marketing at the Tiv Ta'am chain, testified that as early as Monday, "we felt increased traffic.
As of today, I expect a strong work evening. "Regarding the segmentation of the requested products, it reported a 15% increase in the purchase of cigarettes as well as grocery, dairy, frozen products and the like." These categories have increased by 30% and indicate storage. " The Bitan Wines Group, Michael Luboszic, described an attack on the Mega and Bitan Wines neighborhood branches.
"These are mostly completions. There is currently a slight shortage of nigger milk and vegetables."
Eyal Ravid from Victory also noted a lively movement, and Shufersal said that the chain would open more branches on Saturday night.
Loading at the box office Photo illustration: Liron Moldovan
