Frustrated by Prime Minister Benjamin Netanyahu, some Israeli business leaders are considering entering politics. They’re holding discreet, if preliminary, discussions about options, including forming a new party, running candidates on existing lists or volunteering for key jobs in major ministries.
Separately, a forum of Israel’s top 200 business leaders, comprised of owners, chairs and chief executive officers of major companies, is calling for early elections "to save Israel from a deep economic crisis." Half the companies listed on the Tel Aviv Stock Exchange’s TA-35 index are represented, including the CEOs of the four largest banks.
The war against Hamas is straining the Israeli economy. The central bank estimates the conflict will cost around $67 billion through 2025, or almost 15% of annual gross domestic product. GDP per capita dropped in 2023 for the first time in eight years, according to the International Monetary Fund, and the government’s on track to run one of its largest budget deficits this century in 2024.