Finance Ministry: Israel’s economy currently growing at 3.4% annual rate.

Bank of Israel Governor Stanley Fischer tells Bloomberg Businessweek that because recent economic indicators are “more positive” than they were in October, Israel’s economy could grow by more than 3% in 2013

By Zeev Klein and Israel Hayom Staff


Israel’s economy may grow by more than the 3 percent previously forecast for 2013, Bank of Israel Governor Stanley Fischer said in an interview published by Bloomberg Businessweek on Wednesday.

Bank of Israel Governor Stanley Fischer says he is more optimistic about the Israeli economy than he was two months ago. – Photo: Dudi Vaaknin

Fischer said the most recent economic indicators were “more positive” than they were when the Bank of Israel Monetary Committee cut Israel’s interest rate in October.

“Two months ago, there was widespread pessimism among the business sector,” Fischer said. “There were times during the last couple of months that I was concerned we wouldn’t make 3% next year. Under the current set of circumstances, the balance has shifted from downside to some upside potential.”

More positive economic news came from a report released by the Finance Ministry. According to the report, Israel’s economy is currently growing at an annual rate of 3.4%.

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