Bank of Israel’s Governor Warns New Elections Would Hurt Economy

Bank of Israel Governor Amir Yaron called on the government to pass a budget as quickly as possible, and warned that a new round of elections would negatively impact the country’s economy as it grapples with an economic crisis brought on by the coronavirus pandemic.

Israel’s emergency coalition government is teetering on the brink of collapse amid a dispute between Prime Minister Benjamin Netanyahu and Defense Minister Benny Gantz over the duration of the country’s next budget. A disagreement between the coalition partners led to the cancellation of this week’s cabinet meeting, and the budget feud could soon drag Israel to the fourth national vote in less than two years.