Calcalist Editor Ariel Shmidberg Warns of Israel's Economic Instability Amid Ongoing Conflict
Ariel Shmidberg, the newly appointed editor of Calcalist, opened the Calcalist and Mizrahi Tefahot Bank Growth Conference expressing deep concern about Israel's economic stability. Speaking at his first official appearance as editor, Shmidberg emphasized the urgent need for clear, courageous, and ethical economic leadership during a time when both the economy and society require strong guidance. Born in Argentina and raised in Córdoba, Shmidberg drew on his background in a city familiar with repeated economic crises to highlight the importance of resilience and innovation in overcoming adversity.
Shmidberg described Israel's current situation as unstable, citing nearly 1,000 days of continuous conflict, ongoing military casualties in Lebanon, and frequent explosions heard by northern residents. He noted the changed strategic equation, with Israeli strikes in Beirut provoking direct Iranian responses, and lamented Israel's loss of international legitimacy following the October 7 massacre. Beyond geopolitics, he criticized domestic challenges including attacks on the Supreme Court, irrational state subsidies to unproductive sectors, and government favoritism toward supportive media outlets, all undermining economic stability.
The conference theme focused on "Entrepreneurship as a Growth Engine and Building Resilience During Recovery." Shmidberg stressed that true recovery must go beyond restoring the pre-war status quo, advocating for a strategic approach known as "Build Back Better" that leverages crises as opportunities to dismantle old barriers and build stronger infrastructures. He underscored the private sector's critical role as the engine of growth, job creation, innovation, and state revenue, calling entrepreneurship a national survival strategy rather than a luxury.
Shmidberg highlighted the responsibility of economic leadership and media to critically analyze and reflect reality without bias or fear, ensuring public interest and democracy are upheld. He pledged that Calcalist will continue to support and scrutinize Israel's entrepreneurial ecosystem, promoting dialogue on growth, strategy, and resilience. He concluded by wishing for a fruitful conference and genuine partnership in shaping Israel's economic future.
