News Briefs

  Cheshvan 25, 5769 , 23/11/08

Predicted: Economic Crisis to Hit Israel in 2009

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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Other archived news briefs:Nov 23 2008, 01:29 PM, 11/23/2008