The Finance Ministry has reportedly predicted the partial shutdown of the country taking effect on Sunday will cost the economy some NIS 11 billion ($3 billion) in six weeks.
The ministry’s chief economist, Shira Greenberg, estimated that the shutdown would cost NIS 4.5 billion ($1.2 billion) if it were to last only three weeks. The lower number is based on the assumption that employers will fire fewer workers at the beginning of the crisis.
Greenberg presented the estimate to officials at the Prime Minister’s Office during discussions on the shutdown before it was announced on Saturday, in an effort to minimize the economic fallout, the Calcalist business daily reported.
Read more at Times of Israel.
{Matzav.com}
