Bank of Israel chief warns against judicial changes

Bank of Israel Governor Amir Yaron has expressed concern over the proposed judicial overhaul by the coalition government, warning that it could negatively impact the country’s economy.

In a letter accompanying the bank’s annual report for 2022, Yaron emphasised the importance of maintaining the independence of state institutions to ensure economic stability and prosperity.

While acknowledging the need for “significant changes” that have broad agreement, Yaron stressed the importance of ensuring the professionalism and independence of institutions in Israel. The bank’s 2022 report revealed that Israel’s economy grew by 6.4%, with inflation at 5.3% and a four percent devaluation of the shekel.