23 Oct 2025 10:06
How the War with Hamas Has Impacted the Israeli Economy
How did the Israeli economy react to the war against Hamas?
Hear from a major player on the ground – Dr. Eugene Kandel, former economic adviser and Chairman of the Tel Aviv Stock Exchange, discusses Israel's financial resilience after the war against Hamas. Having made aliyah from the Soviet Union in 1977 with his family, Dr. Kandel covers the stock market rebound, missed economic opportunities with Jordan and Egypt, and the success of the Abraham Accords.
*The views and opinions expressed by guests do not necessarily reflect the views or position of AJC.
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Transcript of the Interview:
Manya Brachear Pashman:
Professor Eugene Kandel served as economic adviser to the Prime Minister of Israel from 2009 to 2015, and with Ron Sor is a co-founder of Israel's Strategic Futures Institute. He is also chairman of the Tel Aviv stock exchange, the only public stock exchange in Israel, known locally as the Bursa. He is with us now to talk about the impact of Israel's war against Hamas in Gaza on Israel's economy, the potential and impact so far of the Abraham Accords, and how history could one day view October 7 as a turning point for Israel's democracy.
Dr. Kandel, welcome to People of the Pod.
Eugene Kandel:
Thank you. Thank you for having me.
Manya Brachear Pashman:
Before we begin, your family came to Israel in 1977. Can you share your family's Aliyah story?
Eugene Kandel:
Yeah, when I was 14, my family was living very comfortably in the Soviet Union. My father was a quite known writer, playwright, a script writer. And around him was a group of Jewish people of culture that were quite known in their domains, mostly Jewish. And so at some point in 67 he sort of had this vision and started studying Hebrew. But 1970 and then by '73 when I was 14 years old, he came to me and said, Look, your mom and I decided to immigrate to Israel. What do you think about it, and I said, I don't know what I think about it. Okay, you know, if we want to immigrate, let's immigrate. I never felt too much belonging there.
So unfortunately, Soviet authorities had other ideas about that. So we spent four years as refuseniks. My father, together with Benjamin Fine, were the editors of the underground publication called Tarbut. And for people who did not live there, they put their names on it. So this was, these were typewritten copies of Jewish culture monthly. And there were two names on it. You could go to jail for this. My father was always pretty brave man for his petite size, because during the Second World War, he was very, very hungry, to say the least. S
