Israel’s struggle on Gaza took a bigger toll on its financial progress within the closing three months of the final yr than beforehand thought, based on information disclosed on Tuesday.
The economic system contracted an annualized 21.0% within the fourth quarter over the third quarter, the Central Bureau of Statistics mentioned on Tuesday in its third estimate. It adopted a 19.4% decline in its preliminary estimate that was revised to a 20.7% contraction final month.
The revised fourth quarter determine stems from steeper declines in exports, non-public spending and funding in mounted property, whereas authorities spending is proven to have risen.
War on Gaza has raged since Hamas’ Oct. 7 cross-border assault on southern Israel and led to steep declines within the fourth quarter in exports (-22.5%), non-public spending (-26.9%), funding in mounted property (-67.9%) and imports (-42.4%).
Government spending, although, jumped 83.7%.
On Monday, the bureau reported that the annual inflation charge rose greater than anticipated, 2.7% in March, from 2.5% in February.
Source: www.dailysabah.com