Israel flags speedy recovery
The Bank of Israel's Annual Report for 2009, published on Wednesday, showed that the economy started to recover in the second quarter of last year following the contraction of economic activity at the end of 2008.
Factors that contributed to the moderate impact of the crisis in Israel included the economy's strong situation prior to the turmoil, a conservative and closely supervised financial system, and a sound economic policy.
According to the report, GDP grew by 0.7% in 2009 as the rate of
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