Professor Amir Yaron told Bloomberg that the fourth closure will reduce 0.5% of Israel’s GDP growth in 2021. With the infection rate in Israel rising sharply, 6,363 new cases of Covid virus were reported yesterday, the highest number since February , according to the Bank of Israel Governor Pro. Amir Yaron warned of the fourth closure. He told “Bloomberg” today that everything must be done to avoid another shutdown and that it will reduce 0.5% of GDP growth in Israel in 2021. The Bank of Israel’s latest forecast was to achieve 5.5% growth in Israel in 2021. The Bank of Israel is in line with Ministry of Finance. Yesterday, Finance Minister Avigdor Lieberman stressed that everything must be done to avoid a shutdown. Lieberman said the extent of the dangers posed by the current delta wave is unclear, but there was consensus about the economic damage the shutdown could do. The government’s main concern is that talk of a lockdown will convince many people to cut back on spending and save their money for a “rainy day”. There are already signs of slowing demand with a sharp drop in credit card spending on education and entertainment as consumer confidence data from the Central Bureau of Statistics drops. Published by Globes, Israel business news – en.globes.co.il – August 10, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021 Amir Yaron Photo: Bank of Israel spokesperson
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