Israel’s economy has been on a tear for more than three decades.
A decade ago, the country’s GDP was expected to grow by more than 10 percent this year, but the economy is projected to shrink by as much as 8 percent this season.
In the past three years, Israeli companies have lost more than 30 percent of their value, according to the World Bank.
Inflation is a serious concern.
But the Israeli public seems to be having trouble paying the bills.
This week, the Finance Ministry estimated that inflation has risen to more than 6 percent in Israel.
The government has warned that the economy will fall into a deeper recession in the next two years.
The main driver of the decline in the economy, the World Trade Organization said in a report this week, is a lack of competitiveness in the Israeli agricultural sector, a major industry that accounts for more per capita income in Israel than in almost any other country.
But Israel’s biggest industries, including energy, banking, finance and real estate, have been hit hardest.
The economy is expected to shrink another 3 percent this quarter.
The government has promised to slash the number of public sector workers to below 10 percent by 2020.
But that target has yet to be reached.
The World Bank predicts that the country will have a shrinking workforce by 2020, as a result of a lack for jobs in the private sector.
The world’s third-largest economy is facing a double-dip recession.
Its gross domestic product is expected drop by as little as 3 percent in the coming year.
But there is no evidence that the recession is slowing down.
It is expected that the unemployment rate will increase in 2020, the Bank said, adding that the government’s forecasts of unemployment falling to 4 percent by the end of the year and 3.5 percent in 2021 are too optimistic.
A study by the Center for Economic Policy Research (CEPR), an Israeli think tank, said that the downturn in the Israel economy is more of a symptom than a cause of Israel’s economic woes.
In a new report, the group estimated that the impact of the downturn is not as severe as some analysts had feared, and that it could be the beginning of the end for the economy.
The report said that in the first three months of this year alone, employment in the public sector dropped by over 20,000, while the private economy contracted by 10,000.
In a second report, CEPR said that during the same period, the private and public sectors were each shedding at the same rate, leaving unemployment at over 9 percent.
At the same time, the Israeli private sector is projected by CEPR to contract by as many as 4 percent this fiscal year, according a forecast from the National Bank of Israel.
Last year, the government slashed the number that could work in a private sector job by a third.
This year, it will shrink the number to about 1,500, according the government.
Israeli Prime Minister Benjamin Netanyahu said this week that the world will be watching to see whether Israel can avoid a second recession.
“The second recession will be one of the worst that we’ve had in Israel’s history,” he said, according an Israeli newspaper.
While the economy has benefited from a global downturn, the effects have been felt in Israel as well.
Israel’s population is shrinking, and the number is set to double to around 3 million by 2035.
The unemployment rate in Israel is currently at 12.5 per cent.
There are signs that the economic crisis is not over yet.
The Bank of Japan, the world’s second-largest bank, said in March that the global economic downturn could hurt Japan, which is already in the midst of a second downturn, and may also affect Europe.
It also noted that Japan’s economy is far from recovering.
According to a recent report by the World Economic Forum, Japan’s gross domestic savings rate fell to a record low of 0.3 percent in July.