Economy of Israel: unemployment rises sharply due to Coronavirus

Estimates of the Israeli Ministry of Finance showed that the near-complete closure and the increasing economic contraction due to the new spread of the Coronavirus, and the increase in the rate of infections, will raise the Israeli economic losses to 140 billion shekels ($ 39 billion).

The Hebrew newspaper “Israel Hume” quoted the Governor of the Israeli Bank, Amir Yaron, in a press conference held on Wednesday, saying: “Without health there is no economy, but without the economy there will be no health.”

Deep damage to the economy

He pointed out that the depth of damage to the Israeli economy will be determined by the nature of economic policy in light of this crisis.

He continued, “I am in daily contact with the prime minister, and the ball is now rolling towards the Knesset (parliament), and the Knesset must rise above all political considerations.”

Economy of Israel: unemployment rises sharply due to Coronavirus

And the Israeli Employment Authority announced that unemployment in the Jewish state increased due to the “Corona” virus crisis to 18.6 per cent, and the number of registered to obtain unemployment benefits amounted to more than 616 thousand people, including 91 per cent of workers who were taken to leave without pay.

High number of infections

Meanwhile, the Israeli Ministry of Health announced today, Wednesday, the fifth death of the Coronavirus, “Covid 19”. The fifth deceased is an 87-year-old whose death was announced a few hours after the seventieth paradox of life after the pandemic, to join two other elderly people who were declared dead yesterday, Tuesday, due to illness.

The deaths from the Corona virus coincided with the announcement of the increase in the number of infections to 2030, 37 of them in serious condition, while the number of Israelis who were quarantined on suspicion of contracting the disease, at least 71 thousand people.

The Israeli Ministry of Health conducted 5067 tests to discover the disease, and it was found that 8% of it had positive results.

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