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Report of the Ministry of Finance: Israel is more expensive than other OECD countries

The report, published by the chief economist of the Ministry of Finance, confirms the sense of a considerable part of the Israelis: life in Israel is really higher than in other developed countries.

So, cars and appliances are in Israel, 52 percent more than in other OECD countries, transport costs 30% more, hotels and restaurants cost 29% more food by 25%. Housing is more expensive by 23%.

At the same time, expenditure on education in Israel is six percent lower than in other developed countries, and vegetables and fruits stand at eight per cent cheaper. Communication costs lower by as much as 10%.

Gross domestic product per capita of Israel is in the 20th place in the OECD – just after France. However, if you consider the purchasing power of residents, our country regresses further three positions, yielding also Italy, Spain and the Czech Republic.

The Ministry of Finance noted that the high cost slows down the growth of living standards, despite a marked increase in the gross national product per capita.

Report of the Ministry of Finance: Israel is more expensive than other OECD countries 08.08.2017

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