The Bank of Israel published the main points of its 2025 work plan and the budget for its administrative activity, following approval by the Bank’s Supervisory Council and submission of the budget to the Knesset Finance Committee as required by law. The plan combines the Bank’s strategic targets with measures intended to respond to domestic and global economic developments and to the ongoing uncertainty and economic ramifications associated with the Swords of Iron War. The work plan sets priorities including adapting monetary policy to a changing environment, strengthening financial-system and economic resilience, advancing research, managing foreign exchange reserves, expanding economic data collection and access, promoting financial infrastructures and digital payments, encouraging competition and innovation, operating and regulating the Credit Data Register and wider credit data system, strengthening customer protection, improving public access to financial services, and implementing the Citizens of Israel Fund framework. The Bank’s overall 2025 administrative budget totals NIS 1,301.4 million, up 4.2 percent from 2024, with the increase attributed mainly to items described as inflexible such as currency issuance, management of the Citizens of Israel Fund assets, and wage and pension payments under existing agreements. Excluding currency issuance, management of the Citizens of Israel Fund assets, and the Credit Data System, the 2025 budget is NIS 1,070.9 million, up 3.2 percent. Key line-item changes include NIS 127.9 million for currency issuance in 2025, up NIS 19.8 million (18.3 percent), reflecting cash demand and production-related costs; NIS 93.5 million for the Credit Data System, down NIS 2.3 million (2.4 percent), including planning for a proposed “Credit Register for Businesses” project; and NIS 9.1 million for managing the Citizens of Israel Fund assets, up NIS 1.7 million (23.4 percent), partly for external advisory support and databases. Permitted commitments for coming years total NIS 823.6 million, of which 37 percent relates to future currency issuance commitments and 26 percent to operation of the Credit Data Register.
Bank of Israel 2025-01-28
Bank of Israel publishes 2025 work plan and approves NIS 1.30 billion administrative budget
The Bank of Israel outlined its 2025 work plan and budget, approved by the Supervisory Council and submitted to the Knesset Finance Committee, focusing on adapting monetary policy, enhancing financial resilience, and promoting digital payments amid economic uncertainties. The budget totals NIS 1,301.4 million, a 4.2% increase from 2024, driven by currency issuance, Citizens of Israel Fund management, and wage and pension obligations.