Rebounding from COVID, Israel economy grows 8.1% in 2021, fastest pace in 21 years | Reuters
Israel's economy grew at its fastest pace in 21 years in 2021, bouncing back amid double-digit gains in consumer spending, exports and investment after a very weak 2020 that was stifled by the coronavirus pandemic.
The economy grew 8.1% last year, the Central Bureau of Statistics said on Wednesday, well above the Bank of Israel's forecast of 6.5% and a sharp rebound from a 2.2% contraction in 2020.
The bureau noted growth in Israel last year was one of the strongest globally and compared with an OECD average of 5.3%.
The central bank projects growth of 5.5% in 2022. It has said it is in no rush to start raising short-term interest rates but that faster than expected growth and rising inflation could prod policymakers to join hikes by peers in the United States and Europe.
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