BOI: Israel's economy recovering faster than expected

Bank of Israel Economy

The Bank of Israel (BOI) announced on Sunday that the country's economy was recovering faster than expected, Israel Radio reported. However, BOI representatives stated that additional economic growth would depend on the recovery of the global markets. The central bank analyzed economic developments in Israel between May and August 2009, saying that the rise of the Shekel could be attributed to optimistic forecasts concerning the swift recovery of Israel's economy, and especially the weakening of the US Dollar.
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