Slowing growth and political instability will likely delay fiscal consolidation

ISRAEL - Report 09 Mar 2020 by Jonathan Katz

The current account reached 3.8% of GDP in 2019, with net FDI contributing an additional 2.6% of GDP. Despite strong fundamentals, the shekel has weakened by 3.2% (against the basket) in the past two weeks on sharp market volatility. The MPC hinted that some form of monetary loosening is being considered if growth slows considerably. In politics, the stalemate continues, with no quick or stable government in sight.

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