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Israel is expected to further reduce inflation

The Ministry of Finance of Israel published a weekly report of the chief economist of the Ministry of Finance, dedicated, inter alia, to the analysis of the economic situation in the country.

As stated in the press release on this topic, the chief economist notes the positive state of the Israeli economy.

In September 2017, in comparison with August, inflation forecasts for the next 12 months decreased by 0.1 percentage points to the level of 0.1%.

This is well below the bottom line of government-planned inflation (1%). The expected inflation for the next year slightly increased, but still below the level of 1% - 0.7%. Expected inflation for five years is 0.9%, still below the minimum target inflation level planned by the government.

According to the Bank of Israel, the amount of currency reserves of the Jewish state at the end of September is 111 billion dollars. For September, this figure grew by 31 million dollars.

The Bank of Israel purchased $ 0.2 billion to offset the negative impact of natural gas production on the exchange rate. This is a record level of foreign exchange reserves, including in relation to the domestic gross product.

21:23 17.10.2017