The country, which went into its third lockdown in December, has had more than 686,000 Covid-19 cases in total and over 5,000 deaths, according to its health authorities.
Speaking on Channel 13 Saturday, Finance Minister Israel Katz said the shutdown was to be “absolutely the final lockdown.”
In a statement on Thursday, Israeli Prime Minister Benjamin Netanyahu warned “morbidity” remains “very high.”
“Unfortunately, there is only a moderate decline in severe cases; therefore, the plight and the overcrowding in the hospitals is also very high,” he said.
But he struck a more positive note as he said Israel expects to have vaccinated more than 90 per cent of its over 50 within two weeks.
“We are different from other countries. They do only lockdowns; that is all they do.
“We can make a very cautious and gradual exit from the lockdowns because within two weeks we can vaccinate over 90 per cent of the population over 50,” he said.