Israel: Finance Minister comes out against 2nd round of stimulus handouts

Israel's Finance Minister said on Tuesday that he was opposed to any further economic handouts to citizens ailing financially due to the coronavirus pandemic amid reports that Prime Minister Benjamin Netanyahu is considering a new fiscal stimulus plan ahead of next month's high holidays. 

"I don't think we should be doing this... I'm not aware of any such thing and I don't think it will happen," Israel Katz (Likud) told Israeli radio broadcaster 90FM when asked if Israelis should expect another round of stimulus checks.

Katz, who was appointed Israel's latest Finance Minister in May, emphasized that the state was already disbursing substantial sums under the auspices of the government's current NIS 6.5 billion ($1.9 billion) financial assistance program.

Israeli families with one child this week began receiving a one-time payment of NIS 2,000 ($583), which rises to NIS 2,500 ($729) for those with two children, and NIS 3,000 ($875) for those with three or more.

The payments were justified by the prime minister as a way to stimulate the economy amid high unemployment, estimated at around 850,000 people or 20 percent of the workforce. 

The second phase of the plan, involving financial assistance to the country's 800,000 childless adults, is being implemented between Tuesday and Wednesday. Single Israelis aged 18 and over will each receive NIS 750 ($218).

Netanyahu, however, suggested that if subsidies were indeed granted as the holidays approach, this time they would aim to support those who need it most.