Saturday, December 14th | 16 Kislev 5780

December 30, 2016 9:00 am

Exceeding Projections, Israeli Economy Grows, Unemployment Reaches Record Lows in 2016

avatar by

Israeli shekel coins. Photo: Wikimedia Commons.

Israeli shekel coins. Photo: Wikimedia Commons. — The growth of the Israeli economy exceeded projections this year and unemployment dropped to a record low, the central Bank of Israel’s research department said Wednesday.

Predictions had suggested Israel would see 2.8% growth, but the country has closed out 2016 with 3.8% growth and unemployment of 4.8%.

Citizens’ standard of living grew by 2.9%, private consumption rose by 5.9% and earnings per capita increased by 1.5%. The Bank of Israel had initially predicted 0.5% per capita growth in 2016.

According to the report, the economy began accelerating in the second quarter of 2016, when overall investments jumped by 10%, double the central bank’s original projections.

Share this Story: Share On Facebook Share On Twitter

Let your voice be heard!

Join the Algemeiner

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.