The Israeli parliament is currently debating controversial legal reforms that could have a significant impact on the economy. The reforms, which have been spearheaded by the government of Prime Minister Benjamin Netanyahu, aim to curtail the powers of the Supreme Court and give politicians greater powers over the selection of judges. Some analysts say uncertainties related to the reforms have already triggered a decline in the economy, with the value of the Israeli shekel falling seven percent against the US dollar since the end of January. The shekel slumped further after parliament voted in favour of two clauses at first reading on February 21. The reforms could have a significant impact on the high-tech and financial sectors in Israel, and the industry could lose its comparative advantage in terms of human capital.

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