Final Count Leaves Netanyahu's Bloc at 53 Seats, Eight Short of a Knesset Majority

Prime Minister Benjamin Netanyahu's bloc won 53 seats in Israel's 120-seat Knesset, according to the Central Elections Committee's final count, reported by The Times of Israel. The opposition bloc led by Gadi Eisenkot won 48 seats and Arab parties won a combined 19. Neither bloc reaches the 61 seats needed for a majority. The Hindu reported that the results must still be certified and submitted to the president on November 4, and that difficult coalition negotiations lie ahead.

The arithmetic gives the Arab parties a deciding role. Netanyahu's bloc can reach a majority only by attracting defectors from the opposition. Eisenkot's bloc can reach a majority only with Arab party support, either inside a coalition or from outside it, and some of its own members have rejected that option in past elections.

Markets moved in the same week. Globes reported that the dollar rose sharply against the shekel to above 3.14, a six-month high. The move coincided with the global sell-off in technology shares, which weighs on Israel's tech-heavy export base, and with renewed tension around Iran.