Israel is mirroring many other places in seeing excess death numbers falling as omicron deaths increase. It is a curious but marked phenomenon.
View attachment 308709
Graphs and maps from EUROMOMO
I've already tried to explain why I dont find it very curious at this time of year.
The bar for what counts as an excess death changes throughout the year, and tends to be much higher in January, due to the normal seasonal pattern of flu, cold weather etc deaths. When these other forms of death are lower than normal, it creates more room for Covid deaths to occur without ending up counting as excess deaths.
I can demonstrate that point for England and Wales reasonably easily due to the large amount of regular death data that is published here. I find it much harder to achieve this for a lot of other countries, including Israel. For example if I could find weekly all cause death figures for Israel then we would be able to see the picture without the effect of the winter excess death bar being higher that I just described.
The site you got that graph from compounds this issue further by only publishing z-scores, a measurement that is even more convoluted but that I am not fit to attempt to explain properly.
Because I cannot find the raw data for Israel, I cannot say exactly to what extent the stuff I just described is responsible for the phenomenon you mention, but it would be surprising if it wasnt a big factor. But I will acknowledge several other potential factors too:
Data lag. The spike in Israels deaths are a very recent phenomenon, I dont know if those have filtered into the excess death figures yet.
Although I am not a fan of stretching the phenomenon of 'incidental deaths' too far for particular agendas, I am quite happy to acknowledge that such things are still some part of the mix. And they are expected to be a larger part of the mix during huge Omicron waves, due to the often much larger number of infections countries are experiencing from Omicron, the high levels of protection from vaccination, and some of the intrinsic properties of Omicron. Establishing exact causes of death is not a precise science, but where attempts are made to analyse this, for example in ONS reports for England and Wales, in the Omicron wave they are tending to say that 70-something percent of deaths where Covid was involved had Covid directly listed as the primary underlying cause of death. In other words, although I hate to describe things in these terms, some of those deaths may well have happened at this time of year even in the absence of an Omicron wave. I wont translate this directly to a 1-to-1 mapping, eg I wont claim that up to 30% of those deaths would certainly have happened anyway, but I will try to be fair by recognising that its some part of the picture we currently see. I tend to treat such estimates as an upper bar for 'incidental deaths', with the real figure for deaths that would have happened anyway being somewhere in the region of higher than 0% and less than 30%.
edit - to be more precise, the most recent ONS figures were:
Of the 1,484 deaths involving COVID-19, 72.9% (1,082 deaths) had this recorded as the underlying cause of death in Week 3 compared with 77.4% in Week 2.
from
Deaths registered weekly in England and Wales, provisional - Office for National Statistics
With that detail in mind we might also conclude that the proportion of 'incidental' deaths has continued to increase during the Omicron wave, as has also been the case with hospitalisations. This is another reason far more countries are taking a more relaxed approach now.