How does this tiny nation in one of the world's toughest neighborhoods manage to be so innovative and entrepreneurial?
Lockdowns mean skyrocketing unemployment and reduced GDP, leaving no household or business unscathed. Unemployment exceeded 20% for the first time this evening.
"At this time, our role at the Bank of Israel is to help achieve the correct balance in the financial system," said Bank of Israel Governor Prof. Amir Yaron.
According to nonprofit ScienceAbroad, the Israeli economy loses approximately NIS 20 million for every academic who remains abroad.
“The national budget needs to include engines of equality and not just engines of economic growth. The Israeli government needs to invest in regions of the country neglected by the business sector."
The hefty increase during the past 10 years was fueled by soaring exports of services, notably hi-tech.
"In the first half of 2019, we witnessed a significant increase in the total volume of exits, particularly those with a value exceeding $100 million," said Adv. Shira Azran.
“I know that Israel is very strong in green technology, so we feel that it would be beneficial to introduce Israeli technology into this sector.”
Around five years ago, Bank Leumi established a new organizational structure, in which the Digital Banking Division was born, to implement its new innovation strategy.
The sale follows an intensive series of meetings between senior Finance Ministry officials and foreign investors in London, Paris, Munich and Frankfurt.