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Economy / Israel

Israel

August 2011 | Risk Summary

The Israeli government have approved a 9 to 10 per cent rise in electricity prices, despite massive, ongoing public protests against the country's rising costs of living. On August 6, 250,000 people marched in Tel Aviv, demanding 'social justice' through widespread price cuts. The government argues the tariff hike is necessary to offset costs stemming from multiple sabotages of an Egypt-Israel natural gas pipeline, and to allow the state to meet its fiscal targets. Although the protests do not, as yet, threaten governmental stability, these moves will be badly received by an already agitated Israeli public.

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