A decline in exports will lead a slowdown in the growth of Israel's economy in the next four quarters, according to a report issued by the Bank of Israel on Thursday. The growth rate is expected to be 4.7 percent, 3.2 percent after adjustments. Inflation is expected to be 2.3 percent, a little more than the government's target, and the bank's prime interest rate is expected to stand at three percent.
The bank cited uncertainty over the world's economic recovery, based on estimates of investors and other international bodies.