Steady CA surplus (2.9% of GDP in 2018) and strong FDI are shekel positive

ISRAEL - Report 11 Mar 2019 by Jonathan Katz

The CA surplus reached 11bn USD (2.9% of GDP) in 2018 and net FDI an additional 4.2%: macro fundamentals remain shekel positive. Israeli saving institutions reversed their demand for FX demand and sold 1.7bn USD in January 2019. The fiscal deficit surprised on the upside in February, reaching 3.5% of GDP in the last 12 months. Politics: With one month until elections, it appears that the right wing/religious block has a narrow majority but much depends on whether small parties make it above the minimum threshold.

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