Israel: Experts believe elections could cost Israel $840 million
Independent businesses and employers 'are paying for the election costs from their own pockets'
Israel's economy would suffer a cost of nearly $840 million (NIS 2.54 billion) due to the upcoming general elections, the fifth vote since 2019, according to an estimate from the Israel Democracy Institute (IDI).
The IDI places the cost of elections as between $733 million to $837 million, Channel 12 reported Tuesday.
Election day - a paid day off in Israel - will cost almost $435 million, Channel 12 reported, citing figures from the Macro Center for Political Economics.
Small and medium-sized businesses will bear 43 to 53 percent of those costs.
The total cost of the six election days since 2015, including the upcoming vote expected for the end of the year, will be $4 billion.
Manufacturers Association president Ron Tomer said the election day off for workers should be canceled, according to The Times of Israel, because “in recent years, due to the political instability, become a huge and unfair financial burden on the shoulders of employers."
President of the Israel Chamber of Independent Organizations and Businesses, attorney Roi Cohen, issued a similar statement, saying that independent businesses and employers "are paying for the election costs from their own pockets."
Additionally, the financing of the election itself is a considerable cost. The Central Elections Committee budget has grown 10 to 20 percent with each election, reaching $288 million this time around.