Israel economy to lose $1 billion a week from tighter lockdown


Investing.com - Financial Markets Worldwide

No results matched your search

Economic Indicators7 hours ago (Jan 06, 2021 07:25AM ET)

© Reuters.
© Reuters.

JERUSALEM (Reuters) – A tightening of Israel’s third nationwide coronavirus lockdown is expected to cost the country’s economy as much as 3.5 billion shekels ($1.1 billion) a week, the central bank estimated on Wednesday.

New restrictions that will tighten a lockdown imposed on Dec. 27 will take effect at midnight between Thursday and Friday and last 14 days.

Prime Minister Benjamin Netanyahu has described the curbs as Israel’s final push to stop a sharp rise in COVID-19 cases while it presses ahead with a rapid vaccination drive, hoping to emerge from the crisis within weeks.

Israel’s vaccination campaign has reached nearly 15% of its 9 million population in about two weeks.

The central bank noted that Israel’s first two lockdowns, imposed in the spring and fall of 2020, had cost the economy 5.4 billion and 3.2 shekels a week respectively.

Israel’s economy is expected to have contracted 3.7% in 2020, with double digit unemployment, but rebound in 2021.

Related Articles

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Read More

Spread the love
Nicholas ‘Nick’ Statman entered the property industry in 2001 and set up a property buying company that quickly established itself as one of the biggest in the sector. During this time the Company successfully transacted on thousands of residential properties across the UK. Nicholas Statman was an early pioneer of the ‘quick sale’ niche market which has since grown considerably with a multitude of companies now operating in the sector. Nicholas Statman has strategically built a sizeable residential and commercial property portfolio with a view to holding for optimum capital growth and a long term passive income. Nicholas Statman has been involved in almost every aspect of the property sector over a 20 year period – this includes buying and selling, development, letting and management and is now involved in the fast growing online/ hybrid Estate Agent industry.

Latest articles

Musician faces life sentence for murdering teenager

Cody Ackland, 24, will find out how long he will spend in prison after admitting murdering Bobbi-Anne McLeod in Plymouth in November last year...

Dark web ‘scramble’ over Buffalo attack amid fears of...

UK experts have voiced concern over the impact of lockdown online radicalisation after the latest mass shooting...

William and Kate to attend Top Gun: Maverick premiere...

The film has so far received rave reviews from critics...

Three fake Instagram posts at the centre of the...

Coleen Rooney claimed Rebekah Vardy’s account was the only one to see the posts...

Similar articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Subscribe to our newsletter

Spread the love