Israeli economy grew by 7.2% in last quarter, report says

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2-shekel coins. Credit: Wikimedia Commons.

2-shekel coins. Credit: Wikimedia Commons.

(Israel Hayom/Exclusive to JNS.org) Israel’s economy has recovered from the relative slowdown that followed last summer’s Operation Protective Edge in Gaza, generating 7.2-percent growth in the fourth quarter of 2014, the Israeli Central Bureau of Statistics (CBS) said Monday.

The third quarter of 2014 saw growth dip to 0.6 percent due to the Gaza campaign. The latest report pegged the gross domestic product of the business sector, the main growth engine for the Israeli economy, at 8.2 percent, and said that overall, the bleak predictions of negative economic growth—to the tune of negative 0.4 percent in 2014’s third fiscal quarter—were proved wrong.

The enhanced market performance of the fourth quarter of 2014 has been attributed to the rise in dollar rates and to Israeli government assistance for exporters, industrialists, and farmers, among other factors.

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