Israeli economic outlook boosted by fast vaccination drive
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THURSDAY, MAY 26, 2022
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Israeli economic outlook boosted by fast vaccination drive

Global Economy

TBS Report
04 January, 2021, 01:00 pm
Last modified: 04 January, 2021, 01:08 pm

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Israeli economic outlook boosted by fast vaccination drive

Bank Leumi Le-Israel analysts including chief economist Gil Bufman see a base case of 4.9% growth, and up to 7% if the inoculation momentum holds

TBS Report
04 January, 2021, 01:00 pm
Last modified: 04 January, 2021, 01:08 pm
A nurse draws the Pfizer-BioNTech Covid-19 vaccine in Holon, Israel. Photographer: Kobi Wolf/Bloomberg
A nurse draws the Pfizer-BioNTech Covid-19 vaccine in Holon, Israel. Photographer: Kobi Wolf/Bloomberg

Israel's rapid deployment of vaccines is building optimism about the pace of economic expansion this year.

Bank Leumi Le-Israel analysts including chief economist Gil Bufman see a base case of 4.9% growth, and up to 7% if the inoculation momentum holds, rreports Bloomberg.

Jonathan Katz, macroeconomic strategist for Leader Capital Markets Ltd., sees output growing 4.2%, up from a previously forecast 3.9% -- including a 9% jump in fourth-quarter 2021 over the same period last year.

If previously the expectation had been for a weak first half and ideally a strong second half, then perhaps now the recovery can begin as early as the second quarter, Katz said.

Israel leads Covid-19 vaccine race with 1 million given jab

Israel has a rate of 11.55 vaccination doses per 100 people, which is the highest rate in the world, followed by Bahrain at 3.49 and the UK at 1.47, according to a global tracking website affiliated with Oxford University.

Israel has administedred vaccinations to more than one million people against coronavirus in less than two weeks after the launch of its Covid-19 inoculation campaign,  as global immunisation efforts step up.

Top News / World+Biz

Israel / Israel economy / Coronavirus Vaccine / vaccine race / Vaccine availability / Vaccine distribution / Pfizer-BioNTech coronavirus vaccine / Pfizer Covid-19 Vaccine

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