$13 billion warning from the Central Bank of Israel

In the report shared by the Central Bank, it was warned that if the government accepts the controversial judicial reform, the economy could suffer 47.6 billion Israeli shekels (about 13.16 billion dollars) per year.

The report said the central bank, which raised interest rates for the ninth time to 4.5 percent, raised the country’s interest rates to the highest level since 2007.

In the report, which includes “best” and “worst” scenarios for the Israeli economy, “there is great uncertainty in the expectations regarding the current situation, derived from the legislative process regarding the judicial system.” statements were included.

DEFERRED JURISDICTION

The “judicial reform” announced by Israeli Justice Minister Yariv Levin on January 5 includes changes such as limiting the powers of the Supreme Court and the power to have a say in judicial appointments.

Prime Minister Netanyahu announced on March 27 that he had postponed the court regulation, sparking mass protests and strikes across the country. (AA)