The minimum monthly wage in Israel is 1472 USD. Israel has a government debt of 13% of the country's Gross Domestic Product (GDP), as assessed in 2012. With regard to consumer prices, the inflation rate in Israel is 1.7%. The currency of Israel is Israeli new shekel. There are several plural forms of the name 'Israeli new shekel'. These are shekels, shekalim. The symbol used for this currency is ₪, and it is abbreviated as ILS. The Israeli new shekel is divided into agora; there are 100 in one new shekel. Each year, consumers spend around $164,040 million. The ratio of consumer spending to GDP in Israel is 0.06%, and the ratio of consumer spending to the world consumer market is 38%. The corporate tax in Israel is set at 26.5%. Personal income tax ranges from 11.5% to 50%, depending on your specific situation and income level. VAT in Israel is 17%.
Gross Domestic Product The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Israel is $272,112 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Israel was last recorded at $32,191,780. PPP in Israel is considered to be very good when compared to other countries. Very good PPP indicates that citizens in this country find it easy to purchase local goods. Local goods can include food, shleter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with very good PPP are safe locations for investments. The total Gross Domestic Product (GDP) in Israel is 291,567 billion. Based on this statistic, Israel is considered to have a large economy. Countries with large economies support a wide variety of industries and businesses, providing ample opportunities for investment. Large economies support a substantial financial sector, making it easy to organize investments and financial transactions. It should be very easy to find good opportunities for investment in Israel. The Gross Domestic Product (GDP) per capita in Israel was last recorded at $34,493,373. The average citizen in Israel has very high wealth. Countries with very high wealth per capita have an extended life expectancy and very high standard of living. Highly skilled workers can be found in many industries, and labor is very expensive in these countries. Countries with very high wealth offer opportunities for safe investments, as they are often supported by a diverse and thriving financial sector. GDP Annual Growth Rate in Israel averaged 2.5% in 2014. According to this percentage, Israel is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly.