Finance Minister Avigdor Lieberman today (Wednesday) signed a 12% customs cancellation order for a range of products for the construction and automotive industries.
The move, made in collaboration with Economy Minister Orna Barbibai, is part of the "Zero Customs" program to reduce the cost of living.
Among the products that will be discounted: auto parts, products for industry and construction, such as concrete products, ceramics, cement, tiles, sinks, bathtubs and more, as well as a variety of consumer products such as kitchen utensils, textiles including carpets, bedding and tablecloths, bicycles and electric scooters.
According to the Ministry of Finance, the abolition of customs duties is expected to "increase productivity in local industries and the construction industry, strengthen these industries and reduce construction costs and reduce housing prices. The plan will also contribute to opening new markets for imports and increase parallel imports."
Minister of Finance Lieberman (Archive), Photo: Oren Ben Hakon
Minister of Economy Orna Barbibai (Archive), Photo: Saria Diamant
Electric scooter (illustration),
Finance Minister Lieberman said: "The Zero Customs Plan continues in full force while lowering housing and transportation prices, which are our top priorities. This is another step on the way to increasing competition and lowering the cost of living in the State of Israel."
Lieberman's move came after the Consumer Price Index was published earlier this week, according to which real estate recorded an increase of about 16% per year and inflation reached a peak of 11 years - 4% per year.
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