Here are four headlines from this week’s economic news in Israel.

• Israel’s Wall Street tech top ten worth $136billion.
• Israeli fintech co Pagaya set for $9b SPAC deal.
• Israelis had smaller and fewer overdrafts in August
• Israel’s fiscal deficit narrows to 8%

In terms of national pride, I think we can all agree on which is the most important. However, when it comes to changing times and building that ‘elusive new future”, what is the stand out statement?

For me, whilst I am thrilled to hear that tax revenues are up over 20% compared to last year, it is time to concentrate on those who have less to spend because of their overdraft situation. If the debt owned by the average citizen is now less burdensome, then this is a solid sign of hope for future growth.

Another indication of better times ahead came from the Bank of Israel. Despite the continuing war against corona and more concerns over the border with Gaza, there are strong signs pointing to an upturn in the economy. I suggest that part of that is due to greater political stability internally, although this is a subjective statement that is difficult to measure.

In any event, we may soon see interest rates rising for the first time since who knows when. Overall, that should mean that better times are ahead for most of us.