MAGAZINE ABOUT LIFE IN ISRAEL

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GDP and Inflation Rates Grow in Israel 

in Economy & Innovation

After the economic decline in 2020, Israel’s Finance Ministry has revised their forecasted GDP growth rate from 5.5% to 7.1% for 2021. In 2022, the forecast remains at 4.7%. While the economy bounces back after coronavirus, the Ministry of Finance confirms that the decline of last year will be offset this year.  They have found…

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Israel Budget Passes; First Time in 3 Years

in Economy & Innovation

For the first time in 3 years, Israel’s Parliament approved the 2021 budget, and within 24 hours, the 2022 budget was also approved. While the Knesset vote was close at 59-56, the approval confirms that there will not be early elections or another round of voting. Prime Minister Naftali Bennett, who led the process tweeted…

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Israel Housing Crisis Needs Immediate Cure

in Economy & Innovation

In a recent announcement, the government plans to build at least 280,000 new homes by 2025. This is in response to the dire housing crisis, unaffordable quality of life, and lack of acceptable living standards that the Israel real estate industry has been serving and struggling with over the last year.   The planning and development…

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Waze Algorithm Faults its Million Users

in Economy & Innovation

For the million users who trust Waze to navigate roads in real time, CEO Guy Berkowitz recently admitted that the algorithm is no longer accurate and has been skewing people’s routes. With the lack of travel in a post-pandemic world, traffic in Israel increased by 23%, and the Waze algorithm hasn’t yet caught up, sending…

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First Light Rail Trial Run

in Economy & Innovation

After six years of work, the first practice run of the Red Line light rail was launched between Petah Tikva and Bat Yam, about a 24-kilometer stretch. The midnight run was operated by the Metropolitan Mass Transit System, or NTA, and covered by a large crew of police officers who ensured the public didn’t approach…

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