What's Your Number? From War Economy to Election Economy
Jan 21, 2026
The discussion dives into Israel's economy, juggling the war's aftermath and an election year's uncertainty. Rising Crembo prices signal inflation, while a strong shekel threatens tech exports. The housing market is under pressure with rising rents and a lack of budget, complicating reforms. Political populism takes center stage, with risky spending proposals and stalled privatizations. Meanwhile, the taxi market could see changes with Uber entering, but illegal operations remain a concern. The hosts wrap up by examining who really benefits in this election-driven landscape.
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Strong Shekel Cuts Export Edge
- A strong shekel lowers export competitiveness and reduces the dollar value of raised capital for Israeli tech firms.
- Yonatan warns this can push multinationals to relocate R&D if the shekel remains too strong.
Housing Slowdown Raises Rents
- Israeli residential real estate slowed in 2025 with an oversupply of ~83,000 apartments on the market.
- Yael links high interest rates and buyer caution to rising rents and strain on the middle class.
WYNDEX Reflects Defense And Semiconductors
- The WYNDEX outperformed U.S. indices last year but fell ~1% this week amid mixed global tech moves.
- Defense and semiconductor-linked firms like NOVA and Elbit hit record highs, reflecting sector strength.