Bank Leumi CEO Galia Maor predicts that 2009 will be a most difficult year for the Israeli economy, with high unemployment, bankruptcies, and household economic hardships.
“This is a tremendous financial crisis,” Maor told a Bank Leumi conference audience on Sunday, “that is developing into a worldwide crisis of dimensions that have not been felt for many decades. 2009 will be a year of a genuine recession with a significant rise in unemployment, economic difficulties for households, and an increase in companies going bankrupt.”
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