ECONOMY

The US tax authority will allow individuals and companies affected by attacks to defer certain filings and payments until September 2025.

Israel's decline in international AI rankings is blamed on low priority, under-funding, amateurish management, lack of control, and a surplus of political bodies.

As the war continues, the ratings agency report forecasts that Israel will record 0% growth in 2024, which represents a GDP per capita contraction. Only in 2025 will the economy start to recover with modest 2.2% growth.

For the first time in a decade, Israel's biggest private employer has less than 10,000 employees. "Globes" talks to Intel Israel employees and former employees.

The bill proposes a new legal status in addition to the traditional categories of salaries employee and independent contractor.

The deficit for the twelve months to the end of October this year was 7.9% of GDP, or NIS 154 billion.

The US investment bank sees 0.5% GDP growth in 2024, down from its previous forecast of 1% and 3.3% growth in 2025, down from 3.7% in its previous forecast.

Israel’s foreign exchange reserves at the end of October 2024 fell to $216.074 billion, a decrease of $4.303 billion from their level at the end of September, the Bank of Israel reports.

Matanyahu Englman blamed the Tax Authority, for not taking most of the necessary steps to improve its ability to collect the taxes from cryptocurrencies, at a time when Israel's debt burden is increasing due to the war.

On Friday ratings agency S&P will issue Israel's latest rating, just one month after its unexpected decision to cut Israel's credit rating for the second time this year with a negative outlook.

What Israelis need to know about the Labour government's first budget.

Prof. Esteban Klor of Hebrew University and INSS: To avoid a lost decade, the government must divert resources to growth engines.

In September 2024, the average monthly wage in Israel was NIS 13,535, up from NIS 13,376 in August 2024, the Central Bureau of Statistics reports, according to initial estimates.

The US investment bank says geopolitical risk will continue to be the main driver of the shekel, but macroeconomic fundamentals remain supportive.

At the last minute the Finance Ministry added higher National Insurance contributions to the 2025 budget approved by the cabinet. "Globes" explains who will pay more.

At the last minute the cabinet dropped plans to freeze the minimum wage and all National Insurance payments, except child allowances, which will be frozen.

The Ministry of Finance has published the 2025 budget proposal due to be discussed by the government tomorrow. Including debt repayment, the budget framework is NIS 744 billion.

The public's holdings of liquid monetary assets are growing rapidly, partly because of high transfer payments, which could push up prices when pent-up demand is released.

Granulate joins many other of Intel's Israeli acquisitions which have been closed, including Replay, Oplus and DSPC.

Just days before the government is due to approve the 2025 budget, most of the NIS 40 billion in planned spending cuts have still not been agreed.

S&P Global Market Intelligence's research department predicts 3.2% growth in Israel next year and 3.6% in 2026.

Intel's layoffs coincide with major expansion in Israel by its rival Nvidia, which is taking advantage of the situation.

The measures are opposed by Prime Minister Benjamin Netanyahu and the Histadrut.

The IMF now projects GDP growth of just 2.7% in 2025, halving the previous projection, made in April.

Several hundred out of Intel's 11,000 employees in Haifa, Petah Tikva, Jerusalem and Kiryat Gat will receive dismissal notices in the coming month.

"Globes" examines why prices have risen 40% over the past year for the healthy, delicious and traditional staple.

Annual inflation in Israel has fallen slightly to 3.5% as housing price rises moderate, the Central Bureau of Statistics reports.

The gap remaining between the workers' organization and the Ministry of Finance on the 2025 budget is NIS 3-5 billion.

New measures planned by the Ministry of Finance include raising contributions for unfunded pensions and stopping assistance to new immigrants with over NIS 500,000 in assets.

Meitav chief economist Alex Zabezhinsky bucks the trend with an optimistic take on Israel's economic prospects.

The committee chaired by Prof. Jacob Nagel is examining Israel's defense budget and the structure of its armed forces.