Where do economic decision makers live?

They hold key positions in the Israeli economy, they outline the economic policy and decide how much interest Israelis must pay, how high should taxes be, which budgets will be allocated to the issue of welfare, how high will pensions be, which rights do employees deserve, how to reduce unemployment, and other decisions which affect the local economy and everyone's purse.

Five senior officials in the public economic establishment – Finance Minister Abraham Hirchson, Bank of Israel Governor Stanley Fischer, Industry, Trade and Labor Minister Eliyahu Yishai, Knesset's Finance Committee Chairman MK Yakov Litzman, and Histadrut Chairman Ofer Eini – are without a doubt the key people with a overwhelming influence on the economy.

Where do these decision makers live, and does their place of residence have an influence on their decisions? – Food for thought.

Abraham Hirchson

Finance Minister Abraham Hirchson is the strongest man in the Israeli economy. The Finance Ministry controls the State Budget, and is responsible for taxation issues, determining the economic list of priorities, privatizing the governmental companies, etc.

Hirchson has another advantage: He is very close to Prime Minister Ehud Olmert, and that has a lot of influence on his power.

Hirchson's house in north Tel Aviv. Worth about USD 800,000

The finance minister has been living for 20 years now in a private house in one of the best and most quiet streets of the Ramat Aviv Gimel neighborhood in north Tel Aviv. The house, which was built on an area of 250 square meters (2,691 square feet), is one of a series of houses attached to the ground, built on a plot of 300 square meters (3,229 square feet) with a parking place and a small yard in the front of the house. The house's value is estimated at USD 750,000 to 800,000.

Stanley Fischer

Another key figure in the Israeli economy is Bank of Israel Governor Stanley Fischer. As part of his job, Fischer determined Israel's monetary policy and heads the only institution which supervises the banks today.

Fischer immigrated to Israel in May 2005, and like any new immigrant, searched for a home for himself and his wife Rhoda. Fischer allotted USD 1 million to purchase a house in Israel and asked the real estate agents for a home in the Tel Aviv metropolitan area. He also toured and examined some houses in Ramat Aviv, Ramat Hasharon and Herzliya.

Fischer house in Herzliya. Still renting

Although Fischer did not find a house to buy, he rented a big house in the most quiet place in Herzliya's Nof Yam neighborhood. The house, a Tuscany-style villa, is built on an area of 360 square meters (3,875 square feet), on plot of 400 square meters (4,305 square feet).

The house has four spacious rooms, a basement and a small garden. According to estimations, the house is worth USD 1.6 million and Fischer is paying a monthly rental fee of approximately USD 4,500, which is viewed by sources in the industry as a reasonable price for the asset.

Ofer Eini

Ofer Eini, chairman of the Histadrut labor federation, holds one of the key positions in the economy, due to the fact that he is the representative of more than half a million employees. There is almost not one labor dispute which he does not have to deal with, whether by rejecting or by approving it.

Eini's house in Be'er Sheva. Worth about USD 240,000 

Eini, who was born in Be'er Sheva, lives today in a private home in the southern city's Ramot neighborhood. The house was built on an area of 160 square meters (1,722 square feet) and includes four rooms and a basement.

The plot of land to build the house was purchased eight years ago, and Eini and his family members have been living there for four and a half years now. The house's value is estimated at approximately USD 240,000. Eini is still paying a mortgage for the house.

Referring to his place of residence, Eini told Ynet, "I was born in Be'er Sheva and I love it."

Yakov Litzman

MK Yakov Litzman (United Torah Judaism), chairman of the Knesset's Finance Committee, is one of the main decision makers in terms of the government's economic decisions. Although United Torah Judaism is not part of the coalition, the prime minister agreed to give the powerful job to its representative.

The Finance Committee was recently in the center of the dispute over the approval of the 2007 State Budget, and it constitutes an important station ahead of approving important budgetary moves.

Litzman's house in Jerusalem. Children take turns visiting

Lizman lives in a modest apartment in the ultra-Orthodox neighborhood of Ezrat Torah in Jerusalem. He purchased the 2.5-room apartment, which was built on an area of 57 square meters (513.55 square feet), when he was married in 1969.

The apartment is one of 16 flats in a four-story building, and Litzman's five children, who have already left home, were raised there. Litzman has many grandchildren, and due to the apartments small size his children and grandchildren take turns visiting him. The apartment's value is estimated at USD 120,000 to 130,000.

Eliyahu Yishai

Another significant figure in the economy is Industry, Trade and Labor Minister Eliyahu Yishai (Shas). The Industry, Trade and Labor Ministry is an important part of the economy. Among other things, it is responsible for aiding the industry and encouraging technology, imposing works laws, protecting the consumer and providing prefssional trainings.

Yishai's house in Jerusalem's Har Nof neighborhood

Minister Yishai lives at the Har Nof neighborhood in Jerusalem, not far from the home of Shas spiritual leader Ovadia Yosef. His flat is part of an apartment building which was built at the beginning of the 1990s with 3-4-room apartments on areas of 120 to 130 square meters (1,291-1,399 square feet).

Each apartment is worth around USD 300,000 to 350,000. However, the Har Nof neighborhood is considered relatively cheap compared to most of the ultra-Orthodox neighborhoods in the city, where the price level is USD 4,000 per square meter and up. The neighborhood has about 25,000 haredi residents, including many foreign residents.

Zvi Lavi and Tani Goldstein contributed to the report