November 1st 2022 is sort of approaching. Israel’s 100+ day election campaign is thinking of coming to the boil. Maybe the opposition is a fraction ahead, but it is too close to tell.

One thing is for sure, at a macro level, Israel economy show little sign of slowing down.

This is Israel’s 5th election in less than 3 years. In the same time, the world has faced a pandemic. Russia has invaded The Ukraine and threatened the world with nuclear hell. Israel and Gaza have faced off countless. And Iran feels that it can build a nuclear capability without fear of Western retaliation.

And what do the figures show?

With unemployment a fraction up at 4.1%, the level of total employment has never been higher!

Average wealth per adult is roaring ahead, although the details ignore hardcore pockets of poverty in several sectors.

Israel’s economy is growing, absolutely and relatively to many of its European competitors.

“Israel has over 60 unicorns, but valuation is no longer a future predictor of growth. Meet the Israeli Centaurs, the 32 startups that achieved over $100M in ARR”

I guess that when an Israeli coalition government faces a run up to an election, it has very limited powers to interfere with the economy. In other words, people are left to fend for themselves.

Thus, while the poor or disadvantaged suffer, many others rise to the fore. This is helped by the fact that Israel is less dependent than many on wheat from The Ukraine. As for gas, Italy et all are rushing to Jerusalem to get hold of the country’s extra capacity!

Yes, interest rates and inflation are on the up, but not as in the much of the OECD.