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Often hailed as the economic miracle of the Middle East much of Israel’s population is still waiting to reap the benefits of 15 years of steady growth.
Over the past 15 years, Israel’s economy has largely been fueled by innovation in the tech sector, which contributes around 8.4% of jobs & 15% of GDP.
In July, the country boasted a 3.7% unemployment rate, the lowest in the Middle East and an average monthly salary of over 28 hundred euros.
An estimated 1.8m Israelis, around a fifth of the country’s population, still live below the poverty line. As inequalities grow, many are calling on the government to do more to bridge the economic gap.
Despite growing inequalities, and a budget deficit that should exceed 3.5% of GDP this year, the state of the economy is an issue that’s largely been eclipsed by security and other questions in the buildup to Israel’s general election.
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