GDP contraction in Q420 likely to be modest

ISRAEL - Report 01 Feb 2021 by Jonathan Katz

Economic indicators for Q420 have been fairly positive, with strong export growth (especially hi-tech services) and only a moderate decline in private consumption. The shekel stabilized last week as rapid vaccinations (supporting inflows) has been a positive factor offsetting likely BoI intervention. The IMF expects growth in Israel of 4.1% this year and 5.0% in 2022; inflation is to remain below 1% through 2025.

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