Israel to Deepen Fuel Subsidies to Offset Expected Price Hikes
Translated & summarized from 0404 by baba
Israeli Finance Minister Bezalel Smotrich has ordered an increase in fuel subsidies to counteract expected price hikes, attributing the economic resilience to wartime management and linking the potential price rise to the Iran conflict.
The story in 5 lines · by baba
- Finance Minister Smotrich ordered increased fuel subsidies.
- The goal is to prevent expected fuel price increases.
- Smotrich cited wartime economic management as enabling the move.
- He linked potential price hikes to the Iran conflict and global energy crisis.
- The minister stated Israel is managing both war and economy effectively.
Finance Minister Bezalel Smotrich announced on Tuesday that he has instructed Treasury officials to increase fuel subsidies, aiming to prevent an anticipated rise in fuel prices. Smotrich stated that the ability to expand these subsidies is a result of sound economic management during the war years. The move is intended to curb further price increases across the economy.
The minister linked the expected fuel price hike to the energy crisis stemming from the conflict with Iran, noting that in the United States, the price of gasoline has reportedly surged from $2.50 to $6 per gallon. Smotrich asserted that Israel can simultaneously continue its military campaign against Iran and work to neutralize the Iranian threat, while also preventing domestic fuel price increases.
"We are managing the war correctly and the economy correctly, strengthening security, strengthening the economy, and taking care of you, the citizens of Israel," Smotrich declared.
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