Israel’s Economic Resilience – Even Under Fire?
The TA-35 index, which tracks the 35 largest companies listed on the Tel Aviv Stock Exchange, surpassed the 3,000-point mark for the first time on July 3, 2025—an increase of 17% since the beginning of the year. The broader TA-125 index has risen by 20.3% over the same period, outperforming major global benchmarks such as the S&P 500 (+14% in 2024) and the MSCI Europe (+6% in 2024).
The biggest winners include Elbit Systems (Defense) with a 62% gain and Phoenix Holdings (Finance) with a 68% rise. Meanwhile, the Israeli shekel has strengthened by 11% so far in 2025.
In stark contrast, the Tehran Stock Exchange and the Iranian rial are hitting new record lows almost daily—figures that hardly need describing, so severe are the economic consequences.
Since the late 1970s, had the Iranian regime chosen a path of openness instead of isolation driven by its nuclear ambitions, it could have saved an estimated $1 trillion. This could have been invested in infrastructure, research, renewable energy, fossil fuel development, education, healthcare, food security, agriculture, pensions, and social services—ultimately benefiting its people.
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