I have written a number of posts over the past year, warning that the planners of the Israeli economy can no longer rely on the success story of the past decade. There is a worrying feeling that they have taken no notice.

Since 2003, Israel’s economy has grown by over 41%. To give this some perspective, that is a similar stat to the European and OECD blocks, and dtill better than Japan or the USA. And that spurt has come despite wars on several fronts, as well as pressure from the burgeoning defense budget.

However, over the past few months, a string of economic data has emphasized that the whizz of yesteryear has evaporated. Growth was barely detectable in the second quarter of 2015. Exports were down by over 12%. Even imports plummeted.

In parallel, there are a host of structural issues that still hold back the scope for change. Ultraorthodox Jewish men and female Arabs are highly underrepresented in the work force. Vested interests control the distribution of local food and vegetables, forcing process higher. Ports, Electricity Company, etc are controlled by the unions. The government has proven itself incapable of moving forward the new gas industry towards full production. And so the list goes on.

On the positive side, politicians are tinkering with lowering the rate of VAT to help the poor. It is true that unemployment per se has not risen significantly. There is no run on the currency. Encouraging, yet as I speak with small business owners, everyone is cautious. Few are planning expansion. Nobody is convinced that the government is interested and has enough heart to bring about a critical change.

It is nearly six months since Netanyahu won another general election. You have to wonder what it will take to make him act in order to boost the economy. Time is beginning to run out.