Israeli cabinet approves grants for unemployed, business owners

The Israeli cabinet approved has grants for the unemployed, self-employed and business owners amid growing public criticism over the government's handling of the economic crisis triggered by the Covid-19 pandemic.

The Prime Minister's Office and the Finance Ministry said in a joint statement yesterday that in "the next few days" the government will transfer up to 7,500 shekels ($2,169) to the bank accounts of the unemployed, self-employed, people on furlough and business owners who were hurt by the coronavirus restrictions and lockdown, reports Xinhua news agency.

Finance Minister Israel Katz will advance new bills aiming at launching a national rescue plan for businesses and increasing government expenditure in order to finance the cost of the plan, according to the statement.

Prime Minister Benjamin Netanyahu has announced an 80-billion-shekel national rescue plan to provide an "economic safety net" to the unemployed people and business owners affected by the Covid-19 pandemic.

The economic crisis in Israel has been deepening, with unemployment rising over 20 per cent.

Many Israelis think Netanyahu's government has not done enough to help people who lost their jobs and livelihood due to the restrictions and lockdown..