No results matched your search
Economic Indicators7 hours ago (Jan 06, 2021 07:25AM ET)
© 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.
