Netanyahu announces payments for every Israeli

Prime Minister Benjamin Netanyahu has announced handouts for all Israelis to help stimulate the economy during the Covid-19 crisis. Under the plan a family with one child will receive a one-time NIS 2,000 grant, a family with two children NIS 2,500 and a family with three or more children NIS 3,000. All other adults over the age of 18 will receive NIS 750 each.

Netanyahu said, "We need to get the economy moving and so we are giving out this money. People are sitting at home and not spending and we want to encourage consumption. If people spend then businesses will employ people. This money will encourage consumption and encourage employment. It will move the wheels of the economy that’s how economics works. I tell you by the way. Buy goods made in Israel. Blue and white. Use this money to get the wheels turning.

"Once the plan is approved. Israeli citizens will receive the money within a few days through a mechanism from the National Insurance Institute. But it has to be passed. I'm sure I'll get the support of the other ministers but it's not clear whether we need to put it through legislation. I'll seek ways to bypass that because it takes time but if it comes to legislation - I expect all the factions in the Knesset to support the law so that we can transfer the money quickly. If we start arguing about criteria, it will take a lot of time."

Published by Globes, Israel business news - en.globes.co.il - on July 15, 2020

Netanyahu announces payments for every Israeli

Families will receive up to NIS 3,000 and every individual over 18 will receive a NIS 750 handout, in order to stimulate the economy.