Israel's economy to shrink 4.2 pct in 2020: ministry


  • World
  • Tuesday, 01 Dec 2020

JERUSALEM, Nov. 30 (Xinhua) -- Israel's GDP is expected to contract by 4.2 percent this year and rise by 4.5 percent next year, according to a forecast released by the Ministry of Finance on Monday.

In addition, the unemployment rate in Israel, which currently stands at about 20 percent, will decrease to an average of 8.9 percent in 2021, according to the forecast.

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