At the "Investors Club" conference hosted by financial newspaper TheMarker and One Zero Bank on Tuesday in Tel Aviv, TheMarker editor Eytan Avriel acknowledged that the magazine’s initial predictions about the Israeli economy - following the judicial reform (which he called “the regime coup”) controversy and the outbreak of the Swords of Iron War - did not come to pass.
"At the beginning of the regime coup, and again after October 7, we warned that the economy would take a severe hit - that we were entering a period of extreme risk," Avriel said. "In hindsight, we were wrong. As of today, the best returns would have come from staying in the market - without buying dollars or moving money abroad. How can the stock market be at a record high, despite credit rating downgrades, an 8% deficit, and a projected rise in the debt-to-GDP ratio?"
Shuki Oren, Chairman of One Zero Bank, responded, "People need to understand how strong Israel’s economy really is. The government has become less relevant - the economy has decoupled from it. Major reforms have been implemented, particularly in the pension system. All pension savings are now funded, with 100 billion shekels injected into the market annually. This maintains liquidity, even when some capital leaves the country."
Oren also noted that, despite a decline in foreign investment, $9 billion has flowed into Israel in recent years. “Despite everything, the economy speaks for itself,” he concluded.