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The Bank of Israel attacks the grant program Israel today

2021-01-25T15:46:47.514Z


| economy A statement issued by the Bank of Israel criticized Netanyahu and Katz's economic plan to rescue the economy from the corona crisis. "Public resources should be distributed according to economic efficiency and the criteria for harming the corona crisis - many details are missing." Respondents to Netanyahu's program: The Bank of Israel tonight (Monday) attacked the grant program presented by Prime


A statement issued by the Bank of Israel criticized Netanyahu and Katz's economic plan to rescue the economy from the corona crisis. "Public resources should be distributed according to economic efficiency and the criteria for harming the corona crisis - many details are missing."

Respondents to Netanyahu's program: The Bank of Israel tonight (Monday) attacked the grant program presented by Prime Minister Benjamin Netanyahu and Finance Minister Israel Katz yesterday, in which the government is interested in awarding corona grants of NIS 750 per citizen and another NIS 500 per child up to the fourth child.

Presentation of Netanyahu and Katz's economic plan // Photo: GPO

The Bank of Israel claimed that the plan submitted on behalf of the government lacked details, and was not suitable for the current period.

A statement from the Mossad said that "the principles of the economic plan were transferred to the Bank of Israel shortly before its publication. In a discussion held today in the research division, it was revealed that the plan lacks many details that would allow a professional opinion on its cost and effectiveness." When such a plan is presented, which includes analysis and supporting data, the Bank of Israel will examine and analyze it according to its efficiency and economic necessity. "

The Bank of Israel also explained that "in general, the distribution of public resources should be based on economic efficiency and the criteria for harming the Corona crisis. A universal and indistinguishable distribution - such as a grant for each child, regardless of income - is inefficient. Immunization, and given the existing safety net and other measures recently taken to condense it, the economic urgency must be examined in some of the assistance measures proposed in the presentation. "

Finally, the Bank of Israel stated that "as the economy approaches the exit phase, it is better to focus government support on growth accelerators whose contribution to the recovery of the economy will be greatest.

Yesterday, Prime Minister Netanyahu and Finance Minister Katz held a joint press conference announcing the new grant program, in which the government plans to help rehabilitate the economy from corona damage.

As part of the plan, the government plans to implement nine measures, including a grant for businesses, households, an incentive to keep the unemployed in the labor market, a special grant for the disabled and more.

At the press conference, Netanyahu explained the move and said that it was a "vigorous economic program that would help all Israeli citizens, first and foremost small and medium-sized businesses and job seekers."

"As we have provided vaccinations for every citizen, so we will provide financial assistance to all those affected by the corona," Netanyahu continued, adding: "Everyone is in favor of it and I believe that the vast majority will support it enthusiastically. I am sure that most of the ministers and MKs will side with businesses in Israel and will not want to harm the well-being of Israeli citizens."

Netanyahu also warned against postponing the plan due to the election, saying: "If the plan is not approved now it will be postponed for many months until the next government is formed, and people can not wait. Business and independents can not wait. So we continue to work now "In front of the economic corona, too, for all the citizens, all without exception. We entered the corona together, we will leave the corona together, united and stronger than ever."



The economic plan.pdf

Source: israelhayom

All news articles on 2021-01-25

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