In honor of Israel’s 77th birthday, we reflect on the things we appreciate about our economic and financial systems.
Yes, despite these hard times, VAT and overall tax increases, major economic challenges, and looming US tariffs, there is still so much good worth celebrating. Without a doubt, our incredible Israeli resilience and innovative spirit promises better times ahead in this miracle country that has been built in 77 short years. So here is my list of 77 awesome things about Israel’s economy:
Government & Economy
Despite everything we’ve faced in the past year, our economic foundation remains strong, a testament to Israeli ingenuity and determination.
- A resilient economy continues to show growth despite the war.
- Google’s acquisition of Wiz for $32 billion, proof that we continue to be a tech giant.
- The shekel remains stable as a global currency.
- The Sal Klita (Absorption Basket) currently provides financial support for new immigrants.
- Free Ulpan programs help immigrants integrate linguistically and culturally.
- Strong economic leadership from the Bank of Israel, resulting in economic stability.
- Monthly child stipends from Bituach Leumi, the National Insurance system.
- Improved digital government services that reduce bureaucracy.
- Electricity reform now provides consumers with a choice of providers.
- The introduction of a new category for small business owners, Esek Za’ir, helps reduce bureaucracy and paperwork.
Health Care
Our healthcare system is unique in that both services and innovations continue to be added, with more services available in other languages.
- Universal healthcare system with minimal out-of-pocket costs.
- Free hospital services.
- An extensive list of affordable medication.
- Birth grants (ma’anak leidah) that support new mothers.
- Free dental care has been expanded to cover children under 18.
- Paid maternity leave of 15 weeks (can be split between working spouses).
- Healthcare services becoming more available in English.
- World-class leader in fertility treatments at minimal cost.
- Telemedicine initiatives that are expanding healthcare access.
Savings & Investments
I often tell my clients that Israel has developed some remarkably clever savings vehicles that many people, especially new olim, do not use fully! These programs help us build financial security while navigating Israel’s unique economic landscape. *Not all are suitable for Americans, so please ask your CPA.
- Mandatory pension systems that ensure retirement security.
- Tax-free Keren Hishtalmut savings that provide mid-term investment options.
- Tax-advantaged investment plans, such as Kupot Gemel Lehashka’ah.
- Government savings plans for children.