(Combo) Created on October 28, 2026, this photo combination shows Yashar party leader Gadi Eisenkot (left) addressing supporters at an evening election rally in Tel Aviv in the early morning hours of October 28, 2026, and Prime Minister Benjamin Netanyahu addressing the media after voting in Jerusalem on October 27, 2026.
Maya Levin, Jewel Samad | AFP | Getty Images
In Israel’s final general election results, both the right-wing forces led by Prime Minister Benjamin Netanyahu and the opposition led by former military commander Gadi Eisenkot fell short of the 61 seats needed to form a government.
The result set off weeks of coalition negotiations and political uncertainty, with the opposition coalition facing an uphill battle to form a majority government in the 120-seat parliament.
Prime Minister Benjamin Netanyahu’s Likud party and its far-right allies won 53 seats in the Knesset, falling short of the 61 seats needed for a majority and down from 64 in the 2022 election, according to the Central Election Commission.
Eisenkot’s main opposition coalition won 48 seats, but fell short of the 61 needed for a majority.
Eisenkot now faces a difficult path to a coalition government. Most parties in his bloc reject reliance on Arab-led parties, but Eisenkot said neither met the conditions for an alliance. The Joint List and Ra’am won a combined 19 seats, the highest ever for an Arab-led party.
Prime Minister Benjamin Netanyahu’s party has stepped up its claims that an Arab-led party “stolen” the election, amplifying suspicions that have grown since exit polls showed his camp was losing ground.
Likud claimed on Thursday, without evidence, that the foreign intervention was “aimed at facilitating the foreign takeover of parliament, the Islamization of Israel, and the overthrow of the right-wing government.”
The statement came a day after Supreme Court Justice Noam Solberg, who chairs the Central Elections Commission, called on the Shin Bet security services to investigate “serious allegations” of undue influence through funding from foreign groups.
Solberg said he could not prove the nature of the allegations and instructed authorities to verify the claims.
Qatar, which has been accused of trying to mobilize Arab voters, denies interfering in the election and says the allegations are “as ridiculous as they are dangerous.”
Opposition leaders also called for a full investigation, while warning against using the allegations to cast doubt or influence the outcome of the election.
The Central Election Commission said vote counting had been completed but there was a possibility of “minor revisions” before the results were certified and presented to President Isaac Herzog next Wednesday.
The new parliament is scheduled to be sworn in on November 10th, but political parties have until November 18th to object to the results.
“Comeback Kid”
If the political stalemate persists, Netanyahu could remain as interim prime minister through another round of coalition negotiations or possibly new elections. A return to war with Iran also remains a significant risk.
“Bibi (Prime Minister Netanyahu) is known as the ‘comeback kid.’ He did not become the longest-serving prime minister by accident,” said Kumaraswamy, professor emeritus at Jawaharlal Nehru University, adding that he expected Netanyahu to maintain his current approach towards Iran and Gaza for the time being.
Israeli assets have been under pressure this week as the shekel rebounded after suffering its worst intraday decline since 2023 on Wednesday. Tel Aviv’s main benchmark stock index was down 4.1% for the week as of Friday morning, according to LSEG data.
“We expect some volatility in Israeli assets in the short term until a new government is formed and decisions are made on fiscal consolidation and war-related spending,” said Eirini Tsekelidou, fixed income analyst at Julius Baer. He added that Israel’s economic fundamentals and monetary policy should provide support.
What happens next?
President Herzog plans to begin talks with rival parties next week and name the leader he believes has the best chance of forming a majority government.
Prime Minister Netanyahu is likely to receive the first call to begin a 28-day process to form a coalition government, which could be extended for up to 14 days.
If these efforts fail, Netanyahu will remain interim prime minister and new elections will be held. According to the Israel Democracy Institute, it has previously taken between 20 and 100 days to form a government.
Prime Minister Netanyahu may also push for a government of national unity, arguing that the country should come together as it faces conflict on several fronts, although many of his opponents reject such an arrangement.
