Israel Matzav

35% of Israelis can't finish the month

The social protesters disappeared this past summer, but the Israeli economy continues to be difficult for many of our citizens. The Central Bureau of Statistics reports that 35% of Israelis cannot 'finish the month.'

Despite last year’s protests over the cost of living and other recent signs of rising public dissatisfaction, the CBS found that 61 percent of Israelis aged 20 and over were financially content in 2010 – when the last survey was conducted – compared to just 48% in 2002.

At the same time, 35% of Israelis reported that they were unable to cover all monthly household expenses, such as food, electricity and telephone bills.

Divided into sectors, 45% of Arabs were unable to pay all household expenses, compared to 32% of Jews.

Eight percent of those polled said they were unable to reach the end of the month.

Average monthly household consumption in lower-class municipalities was NIS 11,821 at the time of the survey, compared to NIS 12,755 in middle-class areas and NIS 16,995 in upper-class areas.

The CBS released the above data ahead of Rosh Hashana as part of a preview to its Society in Israel Report. It will publish the full version of the report on October 17 to mark the International Day for the Eradication of Poverty.

Read the whole thing. It makes us sound like a third world country.

There are two problems here: Government price controls (yes, they still exist) and an overly concentrated economy particularly when it comes to food.

Labels: Israeli economy

posted by Carl in Jerusalem @ 12:38 AM