Israeli ministry dealing and overseeing all matters concerning country's economy
The draft proposal published by Finance Minister Israel Katz aims to provide employers with grants worth NIS 7,500 for every employee who returns to the workplace after June 1.
The dramatic drop comes after GDP expanded by 4.6% in the fourth quarter of 2019.
"The numbers are very low, but the numbers were very low when we started this pandemic.”
“This bill is needed to enable the Knesset to function better,” Blue and White MK Ram Shefa told the Arrangements Committee.
Sources close to Netanyahu gave mixed messages for why Barkat was rejected. One source said it was because Barkat did not pose a threat to Netanyahu. Another said it was because he did.
While the economy is expected to contract by 5.5% this year, entering recession for the first time in two decades, it is projected to recover by more than 6% in 2021.
The exact date of Babad's departure will be decided in due course.
The plan, expected to be discussed at a meeting on Wednesday by the two ministries, is based on the formulation of a restaurant-specific set of "purple badge" hygiene standards.
El Al also extended the unpaid leave of thousands of employees until June 30. About 6,000 employees of El Al and its subsidiaries are currently on unpaid leave.
The fund will also fund the loans to credit providers with $750 m.