Israeli industrialists estimated Sunday that if the dollar continues to weaken against the shekel, 34% of the firms in Israel will have to fire employees and 15% will transfer their activity abroad.
Or Yehudai, Chairman of the Finance Committee in the Association of Industrialists and President of Protarom, said : “The industrialists' reports on their de facto situation in the third quarter of the year still paint a worrisome picture: continued decline in exports and investments in industry, sharp erosion in export profits, continued financing problems in factories and a freeze on the number of employed.”