Smotrich vows long-sought assistance plan for Israeli tech harmed by strong shekel (opens original article in a new tab)

Israeli Finance Minister Bezalel Smotrich announced plans for assistance measures to support tech firms affected by the strong shekel, which has increased operational costs and threatened growth. The government aims to provide bridging grants and incentives to prevent relocation of tech companies.

• Finance Minister Bezalel Smotrich announced an upcoming assistance plan to help Israeli tech firms cope with the strong shekel's impact on profitability and operations.
• The shekel's 20% rise against the dollar over the past year has increased operational costs, leading to layoffs, hiring abroad, and relocation of R&D centers.
• The government is considering temporary measures, including bridging grants for startups and incentives for multinational companies to retain operations in Israel.