Israelis struggle with cost-of-living squeeze as war costs rise

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Israelis struggle with cost-of-living squeeze as war costs rise - Business Mirror

Quick Summary:

For the next three years, income tax bands, tax benefits and some state allowances won’t be adjusted for inflation, which at 3.4 percent is above the government’s target.

A government attempt to weaken the judiciary in 2023 caused huge political and social turmoil that also slowed the economy.

That is this year’s estimated cost of a long list of taxation hikes and spending cuts, including a 1 percent rise in value-added tax, that has just gone into effect.