ABSTRACT
Benjamin Netanyahu has shaped the economic landscape of Israel over the past two decades, first as minister of finance between 2003 and 2005 and then as prime minister since 2009. Many claim that Netanyahu was the last influential minister of finance – he inherited an economy in deep crisis; however, 15 years later, some of the macroeconomic indicators in Israel have never been better – stable growth, low unemployment, a low debt–GDP ratio and a positive balance of payments. Nonetheless, Netanyahu keeps the budget of the ministry of defense high and provides annual benefits to settlements that enjoy strong governmental support. While many praise his economic achievements, others claim that the social costs are severe – deep cuts in the welfare system, increasing inequality, the weakening of workers’ unions, and a split between a modernized, liberated, and advanced economy and an economy of overlooked population groups with low productivity and weak economic performances. Following the 2011 social uprising, focused on those costs, Netanyahu adopted a more moderate economic approach. One of the most significant economic events that took place during his tenure as prime minister is the management of the discovered gas resources, which ended in a controversial agreement with the owners of the refineries.
