Israeli central bank expects unemployment to reach lowest rate

Source: Xinhua| 2018-07-10 05:50:35|Editor: Mu Xuequan
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JERUSALEM, July 9 (Xinhua) -- Unemployment rate in Israel will drop to its lowest level ever, 3.3 percent in 2018, according to a forecast published Monday by Bank of Israel, the state's central bank.

The unemployment rate in Israel is one of the lowest in the world, and it was 4.3 percent in 2017.

According to the forecast, growth in the Israeli economy will be between 3.4 and 3.7 percent in 2018. Economic growth rate is estimated at 3.3 percent in 2019. In 2017, the growth rate in Israel was 3 percent.

The central bank expects that the interest rate, which has not changed for almost four years, will rise from 0.1 percent at present to 0.25 percent by the end of this year.

The inflation rate in Israel is expected to be 1.3 percent in 2018, the bank said.

Israeli exports are expected to expand by 5.5 percent in 2018, especially thanks to high-tech services. Imports are expected to rise by 6 percent.