FM Cohen meets OECD chief, says Israel’s economy is strong

Foreign Minister Eli Cohen meets with Organisation for Economic Co-operation and Development (OECD) chief Mathias Cormann, telling him that Israel’s economy is strong and can meet the demands of the ongoing war with Hamas.

“Israel entered the war in Gaza in a strong economic situation and with the ability to provide the best response to the needs of the economy,” Cohen says. He predicts that the war will not have a major impact on the economy and that Israel will see a period of growth after the war.

A Foreign Ministry statement quotes Cormann as predicting that the Israeli economy will grow by 4.5% in 2025.

Last week the OECD lowered the GDP forecast for Israel to 2.3 percent in 2023 from 2.9% projected  in June, and to 1.5% in 2024 versus 3.3% previously, saying that the war was having a “significant impact” on Israel’s economy.