Israel Economic Aid Package Announced
With fear surrounding coronavirus in Israel, Prime Minister Netanyahu announced a $2.8 billion package to help their economy through this crisis. Netanyahu said the aid is intended to stabilize the financial system after Israel imposed a 14 day self quarantine on anyone coming into the land. Netanyahu is quoted as saying, “This is a challenge we believe we can manage.”
Israel is going to need this money. As we reported last week, Israel’s lead economist believes the country is going to lose a billion dollars every month due to this crisis. Even El Al, Israel’s airline is canceling most of their flights and has laid off nearly 80% of their workforce. No matter how you feel about coronavirus, it’s going to have a profound effect on Israel’s economy. Be praying for them.
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