After a decade of robust growth that lifted employment and well-being, the COVID-19 pandemic has thrust Israel, like most countries into a severe economic shock, adding to long-standing challenges, according to a new OECD report.
The Israeli economy continues to register remarkable performance, with strong growth, low and falling unemployment and sound public finances leading to the 15th consecutive year of economic expansion. Further reforms will be needed to drive down inequality and raise living standards for all Israelis, according to a new report from the OECD.
Poor skills severely reduce a person’s chance of a better-paying and more-rewarding job, and have a major impact on how the benefits of economic growth are shared within societies. In countries where large shares of adults have poor skills, it is difficult to introduce productivity-enhancing technologies and new ways of working, which stalls improvements in living standards, according to a new OECD report.
Israel’s economy has strong fundamentals, but the country needs to address productivity, inequality and poverty if it wants to improve well-being and reduce socio-economic divides, according to the OECD’s latest Economic Survey of Israel.
Israel signed today the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, making it the 91st jurisdiction to join the world’s leading instrument for boosting transparency and combating offshore tax evasion.
Israel is not sufficiently proactive in detecting and investigating foreign bribery, with no prosecutions over the past 7 years, despite 14 allegations of foreign bribery involving Israeli individuals or companies. The OECD Working Group on Bribery is, however, encouraged by the recently-opened investigations, and will pay close attention to how these evolve.
Israel’s economy is in good shape, but further efforts are needed to fight poverty and close the gap in living standards with other leading nations, according to the OECD’s latest Economic Survey of Israel.
The Global Forum on Transparency and Exchange of Information for Tax Purposes has released peer review reports assessing the tax systems of 13 jurisdictions for information exchange.
Israel has world class-primary care services and should now focus efforts on bringing its hospitals up to the same high international standards, according to the OECD’s Health Care Quality Review of Israel.
In recent years Israel has strengthened its environmental policies and now should develop a green growth plan that combines environmental, economic and social policies.