The Dollar Continues to Soar

Not stopping: the dollar continues to soar against the shekel

The dollar is trading at 3.87 shekels, and the euro is trading at 4.05 shekels. Yesterday, the OECD organization commented on Israel's economy and recommended canceling the subsidies for yeshiva students

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The dollar continues to rise. This morning (Wednesday), its value reached 3.87 shekels, marking the highest point in over 7 years since the previous peak. The euro is also on the rise and stands at 4.05 shekels.

Yesterday, the OECD (Organization for Economic Co-operation and Development) addressed Israel's economy when it published a report focusing on economic reforms for the year 2023. In the report, the organization looks at all member countries, including Israel, and outlines the steps they should take to achieve economic growth and meet the recommended goals of the organization.

Regarding the State of Israel, the organization specifies a number of steps that would narrow social disparities in the country. The central among them are the cancellation of government subsidies for yeshiva students and the conditioning of the subsidy in daycare centers on the fathers' earning capacity.

The report also addresses the subsidized preschool supply in Arab communities, suggesting an increase in such preschools and an augmentation of education budgets in Arab settlements to align them with schools having a similar socio-economic profile in the Jewish sector.

Chairman of the Knesset Finance Committee, Member of Knesset Moshe Gafni, responded to the publication of the report and said, "I invite whoever prepared this report to a confrontation, and I will explain to them that the Jewish people, after thousands of years of exile, survived all over the world with suffering and hardship, and arrived in the Land of Israel thanks to Torah scholars. The nations don't understand this, why he said this because the hand of Israel is involved in this matter. Someone from here ensured that this would be said. We will also deal with this."

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