Israel’s economic surge in defiance of adversity

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Yoram will be in the US in March, May and August, 2017, available for speaking engagements.

By Ambassador (ret.) Yoram Ettinger, “Second Thought: US-Israel Initiative”
Straight from the Jerusalem Boardroom #218,

1. Notwithstanding Israel’s unique challenges of the chaotically unpredictable state of the Middle East, the Islamic and Arab onslaught, the scarcity of natural resources (other than brain power), the UN enmity, the European appeasement of rogue regimes, systematic criticism by the “elite” media and the attempt to boycott, divest and sanction, the independent, non-partisan quarterly, The American Interest, stated on January 24: “This is there is a new name on our list of The Eight Greats, Israel….

“Israel is a rising power with a growing impact on world affairs…. Large off-shore discoveries of natural gas and oil are turning Israel into an energy exporter [e.g., a $3.5bn-$4bn dollar initiative was just concluded to expand Israel’s natural gas fields]…. Turkey’s ties with Israel strengthened…. Israel’s newfound clout comes from the rise of industrial sectors and technologies that good Israeli schools, smart Israeli policies and talented Israeli thinkers and entrepreneurs have built…. The rise of domestic cybersecurity and infotech economy…. Private investors all over the world look to invest in Israel’s tech startups…. It’s not just America; India, China and Russia want a piece of Israeli tech wizardry…. In the Middle East, Israel has been transformed from a pariah state to a kingmaker…. Never has Egypt-Israel security cooperation been as close as it is today…. The rise of Iran has made Israel critical to the survival of the Sunni Arabs, including the Gulf States…. Israel begins 2017 as the keystone of a regional anti-Iran alliance, a most-favored-nation in the White House and a country that enjoys good relations with all of the world’s major powers bar Iran….

2. Bloomberg, February 16, 2017: Israel’s economy grew 6.2% in the fourth quarter of 2016, its most robust gain since 2014, sending the Shekel to its strongest level in more than two years. GDP for 2016 grew 4%, the most since 2013, supported by record-low unemployment rate of 4.3% in December, 2016. Manufacturing reached its highest level in 7 years. Exports advanced 11.2% and capital investment grew by 7.4%.

3. Israel’s debt-to-GDP ratio has systematically declined (62.1% in 2016), compared with Japan’s 250.4%, the USA’s 104.9%, France’s 97.1%, the Euro bloc’s 91.7%, Britain’s 89%, Germany’s 68.2% and South Korea’s 39.9% (Globes, January 23).

4. In 2016, Israel’s population grew by 2% – compared to 1.2% globally, 0.81% in the USA and 0.18% decline in Germany – identical to Israel’s population annual growth during the last 10 years – 83% due to natural growth and 17% due to Aliyah (Jewish immigration), resulting in a substantial expansion of Israel’s infrastructures of housing, transportation, education, health, medical, etc. (Globes business daily, January 9, 2017).

5. While global venture capital funding has declined during the last two years – according to PriceWaterHouseCoopers, Money Tree and CB Insights – $420mn were invested, during January 2017, in Israel’s hightech companies, sustaining the record level …read more

Source:: Israpundit

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