In the latest financial developments, the Israeli shekel has experienced a marked depreciation against major global currencies, primarily driven by a confluence of international and regional factors. The notable appreciation of the dollar on the global stage, coupled with heightened regional tensions and mounting concerns over Israel's fiscal health, has exerted downward pressure on the shekel.

02 April 2024

Read more: Shekel's Slide: Fiscal Fears And Global Forces Stir Market Turmoil

Since the onset of 2024, Israel has witnessed a significant hike in the cost of gasoline, particularly the 95 octane variety, which has seen a cumulative increase of NIS 0.78 per liter. According to the Ministry of Energy and Infrastructure, as we step into April, there will be a further increment of NIS 0.21 per liter, setting the new maximum price at self-service pumps to NIS 7.72. This adjustment elevates the price of gasoline to its highest point since the peak of NIS 8.08 in July 2022, a spike attributed to the geopolitical tensions resulting from the Russia-Ukraine conflict.

31 March 2024

Read more: ₪7.72/Liter: Gasoline Prices Surge In Israel, Cost Becoming Untenable

In recent developments, the Israeli shekel has exhibited significant volatility, primarily due to escalating tensions along Israel's northern border. This week, the currency has seen a sharp depreciation, losing over 2% of its value against major global currencies like the US dollar and the euro. This trend underscores the shekel's heightened sensitivity to geopolitical dynamics, particularly the intensified activities on the northern front.

12 March 2024

Read more: Shekel Falling Against Dollar Amid Northern Border Escalation

Israel is on the brink of surpassing its projected fiscal deficit, a situation that underscores the economic challenges the country faces amid ongoing uncertainties. As the revised 2024 budget, aiming for a 6.6% fiscal deficit, awaits Knesset approval, recent figures from the Ministry of Finance signal a pressing concern. Yali Rothenberg, the Ministry's Accountant General, reported a substantial fiscal deficit of 5.6% of GDP, or NIS 105.3 billion, over the last 12 months. This marks an increase of 0.8%, or NIS 13.4 billion, from January's 4.8%, indicating a worrying trend in government finances.

10 March 2024

Read more: Israel's Fiscal Deficit Nears Limit Amid War Costs, Early in 2024

Shake Shack, the iconic American hamburger chain, has made a splash in Israel, launching its inaugural outlet adjacent to the bustling Dizengoff Center in Tel Aviv just last week. The fanfare surrounding its debut has hardly waned, with enthusiastic patrons still forming lengthy queues to sample its offerings. This enthusiasm underscores a burgeoning appetite for gourmet burger experiences in Israel, a country where the hamburger market is rapidly expanding and is currently estimated to be worth around NIS 2.5 billion annually.

05 March 2024

Read more: Shake Shack's Grand Entry Into Israel: A Culinary And Social Phenomenon