Coronavirus Infects Jerusalem’s Economy (VIDEO REPORT)
Israeli Prime Minister Binyamin Netanyahu has announced new restrictions on private-sector business activities in a bid to stem the spread of coronavirus, as the Health Ministry on Tuesday raised the number of diagnosed cases of COVID-19 – the illness caused by the pathogen – to at least 324.
Corporations with more than 10 workers have been ordered to reduce the number of staff on-site by 70%. Moreover, Finance Minister Moshe Kahlon has announced a plan to inject $1.5 billion into the economy in addition to a previous package of some $3.5 billion, with a view to propping up small- and medium-sized companies.
Overall, the ministry’s chief economist projected that the crisis would cost Israel’s economy some $12 billion and wipe out an estimated 3% growth in GDP for 2020.
The Media Line took to the relatively empty streets of Jerusalem to speak with those being impacted.