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Gad Lior

Smotrich declares war on the banks as they threaten the public will pay

As banks post tens of billions of shekels in earnings, the finance minister pushes a special tax, regulators warn of consumer fallout and the fight heads toward the Knesset and the High Court

Gad Lior | 12.28.25

Shekel soars to near four-year high as dollar slides

Heavy foreign currency inflows, year-end financial activity and a broader global decline in the dollar push the US currency to about 3.18 shekels, its weakest level since March 2022

Gad Lior | 12.24.25

Finance Minister Smotrich escalates fight with Israeli banks, pushes 15% tax on excess profits

Israel’s finance minister plans to impose a 15% tax on banks’ excess profits, more than double the rate recommended by a special panel, with expected revenues of about $354 million in 2026 and at least $470 million annually from 2027

Gad Lior | 12.23.25

Finance Ministry warns Iran war would trigger new budget shock

Senior officials caution that renewed fighting with Tehran could cost tens of billions, forcing Israel to raise the deficit, breach its budget again or slash funding to ministries, marking a third straight year of economic strain from prolonged war

Gad Lior | 12.23.25

Israel to double VAT-free limit on overseas online orders; retailers fume

Finance Minister Bezalel Smotrich set to double VAT exemption on personal imports to $150, effective within days; move, criticized by treasury officials and business groups, expected to cost state coffers billions and hurt local retailers

Gad Lior | 12.22.25

Tariff relief may be tied to future Palestinian state, as Israel nears deal with Trump team

After losing long-held duty-free status, Israel secures lower rates on key goods in talks with Trump officials, though full free trade may hinge on future recognition of Palestinian state

Gad Lior | 12.22.25

Trump administration denies Israel full tariff break; 15% export duty to stay

Under new agreement, US will set the general tariff on Israeli exports at 15%, down from the 17% rate initially proposed, but above the 10% minimum tariff that Israel had pressed for

Gad Lior | 12.21.25

Wage gap widens as average salaries hit record high

Average monthly wage topped 15,000 shekels for the first time, but gender gaps widened, with men earning 18,441 shekels on average and women 11,940, alongside sharp pay gaps between cities

Gad Lior | 12.21.25

Trump to decide on new US-Israel tariff regime

US president expected to announce this week whether he will cut a proposed 17% tariff on Israeli goods, as Jerusalem presses for a lower rate, citing free‑trade ties, security concerns and recent concessions on US agricultural imports

Gad Lior | 12.17.25

From groceries to gas: Israelis face painful price hikes in 2026

Economists say price hikes, frozen tax brackets and benefit cuts taking effect Jan. 1 could cost Israeli families 800 to 1,200 shekels a month, offsetting limited tax relief and hitting middle- and lower-income households hardest

Gad Lior | 12.14.25

Bank of Israel warns draft law will not ease IDF reserve burden as penalties lack teeth

New analysis says expanding the IDF draft of Haredi men could save the economy up to $4.3 billion a year, but the current bill falls short with weak recruitment targets and penalties that have little impact on Haredi society

Gad Lior | 12.11.25

Israel’s 2025 deficit narrows in November, but year-end spike still expected

Deficit falls to 4.5% after stronger tax revenues cut November’s gap to 3.3B shekels, though Israel is still on track for higher annual deficits after expanded defense spending, budget breaches and rising 2026 targets

Gad Lior | 12.08.25

ראש הממשלה בנימין נתניהו בישיבת הממשלה לאישור תקציב המדינה לשנת 2026:

What you need to know about the 2026 state budget

The defense budget will increase the deficit to 3.9% and probably more, milk reform is in, tax exemption on packages will increase to $150 and the middle class will profit from income tax benefits; Here's everything you need to know

Gad Lior | 12.07.25

Israel weighs VAT hike to fund soaring defense expenditure; Netanyahu signals caution

Finance Ministry proposes raising VAT to 19% to cover defense spending surge as deficit fears grow; Netanyahu and Smotrich oppose tax increase for now but pressure mounts ahead of 2026 budget vote

Gad Lior | 12.01.25

How the Bank of Israel rate cut will shave monthly mortgage costs

Bank of Israel cut its policy rate by a quarter point to 4.25%, pushing prime to 5.75%. Borrowers can expect monthly savings of about 60 to 200 shekels and up to tens of thousands over a 25-year mortgage as markets bet on further cuts.

Gad Lior | 11.25.25