The Bank of Israel Governor predicts 2.7% growth in 2009.
"We expect 2.7% growth in 2009, and we're accused of over optimism. In such times, if you want to be serious, you should be worried, and I am really worried. Wise men won't tell you that there is nothing to be worried about," said Governor of the Bank of Israel Prof. Stanley Fischer last week during a meeting of the EU-Israel Chambers of Commerce and Industry held at the home of the Ambassador of France.
Fischer added, "There will probably be a period of a rise in unemployment, a drop in the growth rate, and some companies will find it difficult to raise capital. These things happen during a slowdown. Some companies will find it difficult to obtain credit.
"The slowdown is global, and in some countries, including in Asia, there is a severe recession."
Published by Globes [online], Israel business news - www.globes-online.com - on November 9, 2008
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