Frustrated by Prime Minister Benjamin Netanyahu, some Israeli business leaders are considering entering politics. They¡¯re holding discreet, if preliminary, discussions about options, including forming a new party, running candidates on existing lists or volunteering for key jobs in major ministries.
Separately, a forum of Israel¡¯s top 200 business leaders, comprised of owners, chairs and chief executive officers of major companies, is calling for early elections ¡°to save Israel from a deep economic crisis.¡± Half the companies listed on the Tel Aviv Stock Exchange¡¯s TA-35 index are represented, including the CEOs of the four largest banks.
The war against Hamas is straining the Israeli economy. The central bank estimates the conflict will cost around $67 billion through 2025, or almost 15% of annual gross domestic product. GDP per capita dropped in 2023 for the first time in eight years, according to the International Monetary Fund, and the government¡¯s on track to run one of its largest budget deficits this century in 2024.
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