FX intervention slows as the economy recovers

ISRAEL - Report 09 Aug 2021 by Jonathan Katz

1. The fiscal deficit declined sharply in July to 9.3% of GDP (LTM) from 10.1% last month.

2. The Bank of Israel reduced FX intervention sharply in July, possibly due to the economic recovery.

3. Disposable income growth remains modest, and fairly much in line with productivity growth.

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