Senior representatives of the Finance Ministry presented an optimistic picture for the near future to the Knesset Finance Committee on Tuesday. They said unemployment for 2013-14 will average 6.2 percent, relatively low for the blow to the economy expected in some circles. A positive influence on employment will come from increased exports as part of a world growth trend to continue through 2018.
Saying its figures were more up to date than negative ones presented by the Bank of Israel, the Treasury representatives noted there were a number of technical reasons involved in the forecast, adding that the cabinet decision to forego a tax hike originally planned for January would cost the state 3.3 billion shekels. Charges related to the exchange rate with the United States dollar were expected to go down.