Israel expands economic safety net to deal with nationwide lockdown

Tel Aviv, September 18 : Israel has expanded its COVID-19-19 domestic economic safety net programme in front of the complete countrywide lock-down that going to start on Fri., the PM’s Workplace & Finance Ministry stated in a joint announcement.

The new extension schedule, ruled by PM Benjamin Netanyahu & Finance Minister Israel Katz, is intended to give a committed reaction to the companies affected by this closure, that going to last for at the least 3 weeks, the announcement stated on Thu. night.

The new schedule also includes steps that going to support lessen the damage to the Israeli labor market.

In the context of the schedule, extra companies going to be entitled for governmental help, state-guaranteed loans, & lowered municipal taxes.

Also, some of the employers going to receive staff retention grants, in the number of 5,000 new shekels ($1,460) for every staff they kept, to encourage employment & prevent mass layoffs.

In addition, employees who’re put on unpaid leaves by their own employers going to receive rised unemployment benefits.

The complete lock-down in Israel, enforced because of a quick raise in COVID-19-19 infections, going to start on Fri. in two p.m.

It includes a ban on moving over 500 metres far from house, along with the closure of most shops & all places of culture, entertainment, leisure & tourism.

The new lock-down going to contain a 500-metre gap limit from house, & the closure of hotels, restaurants, culture & entertainment places, & shops, except for vital places like supermarkets & pharmacies.

Numerous workplaces going to also be closed (or) going to operate partially with work (5) from house.

The closure going to be the 1st in a three-stage COVID-19 mitigation schedule.

The 2nd & 3rd phases, that going to contain easing constraints, going to take (2) impact only after the epidemic status is enhanced.

The overall no. of COVID-19 instances in Israel has rised to 175,256, awhile the number of deaths stood in 1,169.