section_path: Economic impact by continent, region and country/Asia/Middle East/Israel
section_name: Israel
paragraph_text: Israel
  
  At its peak, Israel was one of the world's worst hit countries from the COVID-19 pandemic. By 1 April 2020, the national unemployment rate had reached 24.4 percent. In the month of March alone, more than 844,000 individuals applied for unemployment benefits—90% of whom had been placed on unpaid leave due to the pandemic. Following a successful vaccination campaign, Israel currently issues 'green passports' for individuals who have received their 2nd vaccine dose; which allow indefinite access to many places and amenities formerly only accessible to those with a negative COVID-19 test result. The subsequent low-infection rates have eased restrictions and the economic tension in the country.
  
  On 30 March 2020, Prime Minister Netanyahu announced an economic rescue package totaling 80 billion shekels ($22 billion), saying that was 6% of the country's GDP. The money will be allocated to health care (10 billion₪); welfare and unemployment (30 billion₪) aid for small and large businesses (32 billion₪), and to financial stimulus (8 billion₪).
  
  Israel agreed to pay Russia to send Russian-made Sputnik V vaccine doses to Syria as part of a Russia-mediated prisoner swap agreement.
  
  In 2020, Israel's economy shrank by 2.4%, following 3.4% and 3.5% growth in 2019 and 2018 respectively. This is considerably below the Euro-bloc where the economy shrank by 5%.