As the country faces higher inflation and rising interest rates, Israel's finance minister will try to boost competition in the economy.
Israel is facing a challenging period because of inflation and interest rate increases. He wants to strengthen the economy, boost government revenue and give aid to people who need it the most.
Israel's economy is set to slow this year, with growth predicted to be about 3%. In November, inflation increased to its highest level in six years.
In an opinion piece published in the Wall Street Journal last month, Smotrich said he would like to remove price controls and loosen bureaucratic control over small businesses.
Someone is about to head Israel's finances.
The Netanyahu government took office on Thursday.
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