‘Israel’s’ Current Economic Situation Most Difficult in Its History

“The economic situation is the most difficult in the ‘Israeli’ history,” Katz told ‘Israeli’ Army Radio. “We have taken broad steps to establish an economic safety net. The protest tents didn’t just vanish [for nothing],” he added.

Speaking on the standoff between his Likud party and Blue and White in regards to the budget, Katz said that “I’m trying to convince Blue and White to pass a budget. I presume today the suspension bill will pass and that will be good, but even so we must pass a budget now,” he asserted.

Katz further stipulated that the government is not expected to inject another grant to settlers before the holidays. “I am not familiar with anything like that,” he was quoted as saying. “It was a one-time move.”

According to data published by the ICBS, the Zionist entity registered its severest economic performance in over 40 years, with a GDP annual rate dropping a record 28.7 percent in the second quarter of 2020.

Importing of goods and services plummeted by 41.7 percent and private consumption sank by more than 43 percent.

The occupation entity’s economy has been struggling with the coronavirus pandemic and government restrictions -- including a complete lockdown during March and April -- imposed to curtail the spread of the disease.