Israeli-South African Trade, Technology and Economic Ventures

Governor of the Bank of Israel: “The Israeli market is in a Good Condition”

The Governor of the Bank of Israel, Prof. Stanley Fisher. Said yesterday in the annual press conference, ahead of the gathering of the International Monetary Fund and the World Bank. According to Fisher, the Israeli market grew in 4.6% in the second quarter of 2010 and that the government managed to score below the deficit target, which is 4%. Israel has a surplus in the current account of 6.8% Million Dollars. Fisher said that these figures are very positive if taking in consideration the situation of the global market. He believes that the growth forecast to of the 3rd quarter should be higher, though 2011 might be lower, the last one is due to slow recovery in the developed world. Fisher believes that we will probably not suffer from a “W” crisis. He says that countries that didn’t suffer from a financial crisis managed to recover, while countries that did, did not recover yet. There is a lot of uncertainty at the moment.