Economic stagnation or decline is something feared by every government and major power in the world. Our society is built upon a currency, regardless of the form it takes. From the American Dollar to the Euro, each area in the world depends upon their economy to remain strong. Israel is no exception. With a recent surge of positive results thanks to progress on the amount of debt the country has accrued, things are looking up. However, how secure is our country? That’s what we intend to find out.
Good news first
There is some good news to be had at this precise moment. At the end of 2017, the collective debt of the entire country fell to within acceptable EU standards. The European Union allows for member countries to have a government debt of below 60%. As of recently, Israel is currently operating at around 59%. This is the first time that we’re below the standard, so it is definitely cause for celebration.
What does this mean?
Despite this positive change to the debt ratio, the individual person in Israel is unfortunately struggling somewhat. Experts have recently been of the opinion that it is becoming more difficult for an ordinary person to stay out of debt.
The problems faced by the public are considerable. Demand for housing has far outstripped supply, so the remaining available homes that are available are all hotly contested and argued over. Many have been forced into a situation where they have to purchase properties which are not yet completed, forcing the need to rent.
This situation is further compounded by the fact that globally, living is becoming more expensive. Food prices, utilities, clothing. Even with sites like CouponBirds offering deals and offers, it’s still challenging for people to get by and acquire all that they need to survive and prosper. Ultimately, people in Israel are experiencing similar issues to the rest of the world - we’re all drawing from a finite and ever-shrinking pile of resources. This makes it difficult for anyone to properly provide, and while there aren’t swarms of people out on the streets, no one can really say that they’ve got piles of money to throw around on frivolous purchases. Perhaps as the government debt continues to declineת more money can go into improving these problems, but right now things can be considered quite tight.
Overall, there’s a very mixed set of problems at work in the country right now. One the one hand, debt is going down and there’s an atmosphere of hope in the higher up areas of Israeli society. On the other hand, times are becoming more challenging for people who are just trying to get by. It isn’t a crisis just yet, but it is a source of concern when you’re trying to provide a home for yourself and your family. That’s why it’s so important that people look for discounts and savings wherever they can, and also that they take the time to only get what’s needed.