It is generally agreed that both as Finance Minister and later as Prime Minister, Bibi Netanyahu has had a big hand in the significantly improving status of Israel’s economy.

Now entering his 6th term as PM, one of the country’s leading financial services, “Globes” asks outright if ‘Netanyahu has given up on Israel’s economy’.

Awkward.

After all, he has appointed two people to the position of Finance Minister, serving alternatively in a two-year rotation cycle. The second is his long-time political ally, Arye Deri, who has twice been convicted for financial issues. The first incumbent is Bezalel Smotrich, not previously known for any deep acumen in the world of economics nor trade.

It took Smotrich barely 48 hours to come out with his first policy statement. He has “instructed ministry officials Sunday to roll back tax hikes on single-use plasticware and sweetened drinks put in place by his predecessor..”

Issue number one: The incoming government has promised humongous sums to all the coalition partners – unbudgeted because there is no budget – and the first thing the minister does is cut (marginally) his revenue pool. Hmmm. Maybe we can just forgive that.

Issue number two: Israel has one of the highest rate of diabetes in the West, and this move only encourages further drinking of items openly labelled with high suage content. It took the doctors’ association just a few hours to register its disgust. There again, what do they know about people’s health compared to Mr. Smotrich.

Issue number three: Israel has already been cited as failing to push hard enough the agenda of a better global environment. And now we are going to be encouraging the use of even more plastic bottles. Three strikes and you are out.

So, the Treasury will lose a billion or so shekels annually and the country will be more polluted just so that the constituency of Smotrich – primarily large families with young kids can be fed drinks that are simply junk – which I guess is the word that sums up this whole approach.

I just hope Smotrich takes longer to mull over his next statement and its ramifications.