Israeli Economy Shows Growth Despite Turmoil
Photo: Wikicommons
The Israeli Shekel is the only one of ten emerging currencies to strengthen against the dollar. While European currencies are taking a tumble, the Shekel has maintained its stability, mostly due to responsible steering from the Central Bank of Israel. “In the last five years Israel has engaged in two wars and a worldwide recession and yet the novelty and dynamics of the Israeli economy has thrived,” said Stanley Fischer, Governor of the Bank of Israel. “We survived this crisis due to two factors the ingenuity of the Israeli business sector and governmental fiscal responsibility”.
Given these latest indicators along with expected growth in the Israeli economy, Bloomberg-Businessweek asks, is the Shekel the new king? read more
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