Initial election results positive for Netanyahu

ISRAEL - In Brief 24 Mar 2021 by Jonathan Katz
With over 70% of the votes counted, the right-wing Likud-led block appears to be the winner with 57 seats (out of 120 in the Israeli Parliament). This includes the Likud (32), the ultra-orthodox (19) and the ultra-right Zionist (6) parties. Benett (Yemina) received 7 seats and if he joins this block a majority of 63 is assured. This is the most likely outcome, although there is a slim chance that the anti-Netanyahu block (with 56 seats including many small parties) recommends Benett as PM. This will be difficult to coordinate with the Arab party (6 seats) not too keen on supporting Benett, who is regarded as right-wing. A Netanyahu led-coalition with Benett could be the more stable one in the long run. Benett will demand many key positions, possibly Ministry of Finance as well. If this coalition is stable and capable of moving on economic reforms and consolidation (although the stipends for the ultra-orthodox will not be reduced), it could be favorable for markets.

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