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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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New Solar Energy Field to Battle Climate Change 

in Economy & Innovation

In a bid for what may become the largest solar energy field in Israel, nine proposals from 11 companies have been submitted to the Finance and Energy Ministries. The new project comes on Israel’s immediate need to reduce greenhouse gases, and increase its renewable energy use, and Energy Minister Karin Elharrar says that “The Israeli…

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Israel Ranks in Top 20 Economies for GDP 

in Economy & Innovation

Israel has never been in the top 20 economies for GDP per capita; however, the past year has made the strength of the Israeli economy notable despite its subsequent shutdowns during the coronavirus crisis. In the latest Forbes Israel report based on International Monetary Fund data, Israel is 19th on the global list.  GDP per…

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First Digital Bank Branch Set to Launch in Q3

in Economy & Innovation

Industries are being turned on their sides due to digital, yet banking hasn’t seen much out of the box – until the First Digital Bank. Founded by Professor Amnon Shashua, who played a founding role in the Mobileye self-driving car revolution, the First Digital Bank hopes to be a disruptor in the centuries-old industry. CEO…

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