Israel's Finance Minister Orders Additional Fuel Subsidy to Curb Price Hikes
Amidst a global energy crisis impacting Israeli citizens, Finance Minister Bezalel Smotrich has ordered ministry professionals to immediately prepare for an additional subsidy on gasoline prices. The move aims to completely halt the sharp increase in consumer costs.
Smotrich held an emergency meeting on the matter with ministry officials on Tuesday afternoon. In the coming days, following professional staff work and economic assessments, the minister will finalize the details and price of the planned reduction.
The Finance Minister emphasized the necessity of this measure at this time to protect the public, maintain price stability in the Israeli economy, and prevent the cascading effect of price increases that could fuel inflation across many sectors and harm economic growth.
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