On the way to a drop in food prices? The dramatic step of Finance Minister Lieberman

Advanced zero duty program: Finance Minister Avigdor Lieberman today (Thursday) signed an order to cancel the customs duty on the import of food products, including vegetable oils, sauces, dried fruits, pastries, jams and snacks.

Similar to tariff reductions carried out in the past, the abolition of the tariff on the import of food products is expected to lower the price for the consumer and increase consumption. Also, the abolition of the customs duty will increase the variety of products imported to Israel, so that the Israeli consumer will be able to enjoy a wider selection.

Food prices in Israel are 37% higher compared to OECD countries, so the Israeli consumer is forced to purchase these products at a high price.

Finance Minister Lieberman said: “Even before the Tishrei holiday, we continue to reduce the price of the consumer’s food basket and lower taxes on a long list of food products that are found in every home in the State of Israel. Dealing with the challenges of the cost of living is consistent through all the existing channels, this is how we have acted until today and this is also We will continue to act.”

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