Is Smotrich’s economic vision a threat to Israel’s financial stability?

Bezalel Smotrich, the newly appointed finance minister of Israel, revealed his unique economic philosophy in an interview before taking office. He emphasized a religious-economic framework that prioritizes following the laws of the Torah for economic prosperity. Smotrich firmly believes that by adhering to religious principles, such as settling the land and mutual responsibility, Israel will experience great prosperity and security.

Despite concerns about his religious-economic vision, Prime Minister Benjamin Netanyahu appointed Smotrich to the crucial role of finance minister. Since assuming office, Smotrich has diverted billions of shekels towards settlements, Torah studies, and ultra-Orthodox education, neglecting key economic and social issues.

The consequences of these decisions are evident in the increasing budget deficit and lack of economic planning for the future. Smotrich’s actions have raised alarms among experts who warn of a potential economic downturn if corrective measures are not taken promptly.

In conclusion, Israel’s economic future under Smotrich’s religious-economic vision remains uncertain, with concerns about growth, inflation, and the cost of living. The need for strategic economic planning and prioritizing essential reforms is paramount for safeguarding Israel’s economic stability.