Israel PM Orders Up Economic, Aid Plan Within Days

Israel PM Orders Up Economic, Aid Plan Within Days

(Bloomberg) --

Israeli Prime Minister Benjamin Netanyahu told government officials to quickly come up with an economic plan and aid package in response to the coronavirus outbreak.

The steps should contain assistance for salaried workers, the self-employed, businesses and households, Netanyahu’s office said in a text message. The plan should be ready within days, and parts of it will be brought to parliament for approval, it said.

The plan should include an “extensive and significant relief package,” Netanyahu’s office said. The statement was issued after the prime minister met with officials including Finance Minister Moshe Kahlon, Bank of Israel Governor Amir Yaron and National Economic Council Chairman Avi Simhon.

Government restrictions on movement aimed at halting the spread of the coronavirus have forced many business to lay off or furlough workers. Earlier in the day, Ynet news website reported that unemployment has quadrupled to 16.5%.

Israel has 945 confirmed cases of the virus. One person has died.

©2020 Bloomberg L.P.

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