History remains unheard but it silently flows down from the streams of electronic media Persis Anthony makes an apprehensive effort emphasizing on the present past and future situation of Israel’s economy and company.
Holiness, beliefs, custom , myths all this sums up highlighting the country situated in the middle eastern country on the Mediterranean sea regarded by Jews, Christians and Muslims as the biblical holy land. The population of Israel as been defined by the central bureau of statistics was estimated 8,502,900 in 2016. It is the worlds only state where Jewish reside majorly, the majority of Israeli Muslims are Sunni Muslims the rest are Christians. The country has the highest standards of living in the Middle East and stands fourth in Asia. After gaining independence in 1948, Israel was admitted as the member of United Nations by obtaining majority of votes on 11th may 1949.
Israel economy is entering into a new stage and it can be divided into five stages, Israel economy is entering into a new stage and it can be divided into five stages,
1:- The first stage was prior to WWI. Investments at the mini level helped the community but never displayed profit as well the Jewish community during those phase was small most of the income was charity from abroad.
2:- The second stage was from the end of WWI, during this phase the universities were established, roads were built and even the landmark buildings were constructed.
3:- The third stage was from 1948 to the Russian Aliyah of the 1990’s and Israel saw development for the second country.
4:- The fourth stage began in 1990’s and came to an end in 2015, the population rose from about from 4 million to nearly 6 and a half million Jews.
5:- At the fifth stage of Israel the phase of development took place.
Israel’s modern legal is based on British common law and renders effective means for administering property and contractual rights. The judicial framework that enthralls the rule of law and provides constant protection for property rights has contributed to economic stagnant stage and long termconsumptiveness. The recent invention of vast offshore natural gas deposit has improved Israel’s energy security and balance-ofpayments prospects.
Withstanding the 2006 war against Hezbollah in Lebanon and the 2008-2009, 2012, and 2014 wars against Hamas in Gaza as well as the constant threat of terrorism didn’t let fall the the economic sustainability and growth of Israel.
Jerusalem is considered to be holiest city and capital of Israel it is the birthplace of Jesus Christ who was been born in the manger of cows. The country Israel has more of biblical significance rather than the Wikipedia, websites and blogs provide, the four holy cities of Israel are Jerusalem, Hebron, Tijeras and Safe each and every place has pious reasons as their names were been given through the heavenly vision of Jesus Christ to his servants who obeyed the commandments written in the Bible and flourished abundantly.
AGENDA OF ECONOMY
Israel has a modern market economy with a burgeon hightechnology sector that allures foreign investments. Israel’s openness to global commerce is a vital factor in merchandizing innovation and productivity growth. Gaining constant profit from an increasingly diversified productive pedestal and ongoing structural reforms it led the economy of Israel to almost grow four percent over the past five years. The government has strengthened privatization programs sheltering all key state-owned entities, but the growth remains to be seen. Being ranked one of the top-most economic country, the 2015-2016 budget has been passed by the Israel Prime minister Benjamin Netanyahu covering 30,000 specific reservations for which 420 votes were required. The overall budget will increase by NIS 13.8 billion for 2016 among which education ministry will be receiving NIS 4.9 billion, similarly health ministry can avail the total NIS of 4.6 billion as well as the social welfare will receive the modest NIS of 1.3 billion which would be an added advantage to increase its funds.
Israel’s average tariff rate is 0.9%, the government in Israel sets bound on import of agricultural products. State-owned enterprises operate in several sectors including transportation and energy, while foreign investments in most boroughs of economy are not subject to screening. Capital markets have been emerging as a part of Israel’s Endeavour as a regional financial hub.
ISRAEL MODERN ECONOMY
The global financial crisis in 2009 fabricated a brief phase of recession in Israel, but the country’s shrewd fiscal policies and regulations allowed the economy to recover quickly. Israel monotonously ranks elevated in terms of its venture capital availability, technological readiness and the caliber of its research organizations.
ISRAEL ECONOMY OUTLOOK
In the first quarter, Israel’s economy declined notably over the previous quarters and the GDP expanded at the slowest rate in three quarters. The key factors behind the downfall were due to the contractions in government spending on exports.
The next phase of industrialization concentrated on developing and manufacturing arms required for the defense of the country. The huge investment in aviation and armament industries blossomed with new technologies that became the base for Israel’s unique hi-tech industries