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ISRAEL AT WAR - DAY 433

Israeli GDP

Families of Israelis held hostage by Hamas terroriststake cover as a siren alert is sounded at the 'Hostage Square' outside the Art Museum of Tel Aviv, October 28, 2023. (Miriam Alster/Flash90)
February 19, 2024, 6:28 pm
War-battered economy plunged almost 20%, marking sharpest contraction since pandemic
With the outbreak of the war, private consumption and investments dropped sharply, while government spending soared amid massive reservist callup and wide population displacements
By Sharon Wrobel
A rocket fired from the Gaza Strip by Palestinian terrorists hit a building in the southern Israeli city of Ashkelon, October 9, 2023. (Chaim Goldberg/Flash90)
October 10, 2023, 7:45 pm
War with Hamas to cost Israel at least NIS 27 billion, Bank Hapoalim projects
War comes at challenging time for economy; International Monetary Fund warns world economy faces new uncertainty from war between Israel and Hamas
By Sharon Wrobel
A protester holds a sign saying 'We will never surrender' at a rally against the planned judicial overhaul in Tel Aviv, on June 3, 2023 (Avshalom Sassoni/Flash90)
June 15, 2023, 11:41 pm
IMF hails ‘remarkable’ Israeli economy, warns overhaul uncertainty may harm growth
Organization recognizes strong performance but expects slowdown while citing high inflation and controversial judicial plans, urges political solution
By AFP and ToI Staff
An illustrative photo of the Tel Aviv financial business district skyline. (Elijah Lovkoff via iStock by Getty Images)
May 16, 2023, 7:24 pm
Finance Ministry cuts economic growth forecasts as tax revenue and investments cool
Treasury revises 2023 growth forecast down to 2.7% from 3% as economic slowdown will lower tax revenue this year by NIS 5.3b; sees judicial uncertainty affecting foreign investment
By Sharon Wrobel
IMF staff mission to Israel led by Miguel Segoviano presents initial country report to Bank of Israel governor Amir Yaron and Finance Minister Bezalel Smotrich, May 10, 2023. (Finance Ministry Spokesperson's Office)
May 11, 2023, 12:02 am
IMF says uncertainty over judicial overhaul poses ‘risks’ to Israeli economy
IMF cuts 2023 growth outlook, noting judicial uncertainty could lead to severe financial conditions, hamper investment and consumption; S&P set to affirm credit rating outlook
By Sharon Wrobel
Illustrative: The entrance to Tel Aviv Stock Exchange, in the center of Tel Aviv, December 25, 2018. (Adam Shuldman/Flash90)
February 17, 2022, 2:34 pm
Fitch affirms Israel’s A+ rating, citing strong 2021 economic performance
Ratings agency says country also faces political uncertainty, noting possible upcoming 2023-2024 budget tussle
By Ricky Ben-David
Israelis shop at the Mahane Yehuda market in Jerusalem on June 03, 2020. (Olivier Fitoussi/Flash90)
August 2, 2020, 4:54 pm
Finance Ministry says it could take five years for economy to recover
GDP could contract by 7.2% in 2020 if economic restrictions are reimposed due to coronavirus pandemic, according to forecast
By ToI Staff
The governor of the Bank of Israel, Amir Yaron, attends a press conference in Jerusalem, March 31, 2019. (Yonatan Sindel/Flash90/File)
July 7, 2020, 3:31 pm
Bank of Israel sees its corporate bonds plan as sharing in virus-related risk
Central bank intends to intervene, for the first time ever, in the corporate bond market, buying bonds for a total of NIS 15 billion, in a bid to aid the pandemic-hammered economy
By Shoshanna Solomon
Shipping containers at the Haifa port, November 14, 2011. (Yaakov Naumi/Flash90)
November 21, 2019, 4:41 pm
OECD: Though ‘robust,’ Israel’s economic growth expected to slow in coming years
Report predicts GDP to ease slightly in 2020, 2021, but remain near 3%; forecast sees unemployment rising to 4.3% — still close to historical low
By Stuart Winer
As far as the eye can see: the Tel Aviv view from the Azrieli observatory (photo: Courtesy)
From the WebNovember 17, 2019, 5:49 pm
Israel’s Q3 growth surprisingly high
Globes: Israel’s economy grew an annualized 4.1% in the third quarter, far exceeding market expectations of a 2.6%-2.8% increase, Central Bureau of Statistics data shows
Prime Minister Benjamin Netanyahu at the World Economic Forum (WEF) annual meeting on January 25, 2018, in Davos, Switzerland. (AFP Photo/Fabrice Coffrini)
July 22, 2019, 5:15 am
Is Netanyahu an economic wizard? The numbers beg to differ
The PM often boasts he has turned the Israeli economy into ‘a huge success story.’ A review of the past decade’s figures reveals a different reality, for which Israelis are paying
By Nati Yefet
Tech giant Intel's campus in Santa Clara, California. (AFP PHOTO / KIMIHIRO HOSHINO)
From the WebMarch 22, 2017, 2:24 pm
The Israeli economy’s got Intel inside
Bloomberg: While other global giants like Alphabet Inc., Apple Inc. and Facebook Inc. have development centers in Israel, their investments pale when compared with Intel’s; the US-based chipmaker exported products for $3.35 billion from Israel last year
Israelis shop at the IKEA furniture store in the central Israeli town of Rishon le Tzion. October 10, 2014. (Yaakov Naumi/Flash90)
From the WebMarch 9, 2017, 4:18 pm
Israel’s economy gets big boost in 2016
Central Bureau of Statistics finds GDP growth of 4% — Globes
Illustrative view of central Tel Aviv, home to many of Israel's tech and finance companies, August 29, 2016. (Miriam Alster/Flash90)
From the WebOctober 13, 2016, 3:11 pm
Israel’s Q2 growth again revised upwards
Globes: Israel’s Central Bureau of Statistics revises second quarter growth from 4 percent to 4.2% with quarterly private consumption jumping 10%
Illustrative photo of a board showing stock fluctuations at the Tel Aviv stock exchange (photo credit: Moshe Shai/Flash90)
October 11, 2015, 6:16 pm
Moody’s: Israel’s economy rocked by recession, politics
The worldwide slowdown in spending and a calcified political process have helped contribute to a slowdown in Israel’s economy – but things could be better soon
By David Shamah
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