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Israeli study finds paying off debt, not spending, is main use of stimulus cash

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An Israeli study that researched people’s financial responses to the direct one-time coronavirus stimulus payments distributed by the government in August, found that more people used their government stimulus checks to pay outstanding debts rather than going out and spending.

The study, released Tuesday, concluded that the government’s stated goal of economic stimulation was “at a minimum, modestly achieved.”

In August the National Insurance Institute began rolling out Prime Minister Benjamin Netanyahu’s stimulus package to help Israelis struggling with the financial effects of coronavirus restrictions.

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