Israeli PM Bennett: “Israel’s Economy is Booming; Omicron Cases are Dropping

Edited by: TJVNews.com

 “Omicron cases are dropping, Israel’s economy is booming,” said Israeli Prime Minister on Thursday.

Israel’s economy grew 8.1% in 2021 and 16.6% in the last quarter — the fastest in 21 years.

In a video statement on the subject, Bennett said: “The Omicron wave is breaking. There is a steep decline in the number of serious verified cases. The strategy that we have led, of an open economy through all the waves, alongside dozens of persistent actions against the virus, has led the State of Israel – all of us – to be in first place in economic growth among the OECD countries. This is a level that we have not seen in 21 years. This a major gift for the entire Israeli public.

Just as we were the first to take action and close the skies at the start of the wave, now we are gradually relaxing the restrictions.

Earlier today I held a discussion with the Health Minister and various professionals. We are stopping the use of the Green Pass and soon we will announce additional measures to ease restrictions.”

AP reported that Bennett also said that the Green Pass, Israel’s digital vaccination passport, limited entry to indoor venues and large gatherings to people who had recovered from coronavirus or received at least three doses of the vaccine.

Although new infections remain high, Israel’s health ministry has reported a steady decline in serious cases of COVID-19 since the peak of the country’s omicron wave earlier in February, according to the AP report.

Israel raced out of the gate last year to vaccinate most of its adult population after striking a deal with Pfizer to trade medical data in exchange for a steady supply of doses, as was reported by the AP. Around 48% of Israel’s 9.4 million people have received three doses of the Pfizer/BioNTech vaccine since the country began rolling out immunizations in late 2020. Over 72% of the country has received at least one dose.

At least 9,710 people in Israel have died from coronavirus since the start of the pandemic two years ago.

According to a report on the Globes.il web site, the Israeli GDP growth in the fourth quarter was a whopping 16.6%, on an annualized basis, as was indicated by the Central Bureau of Statistics.

Israel’s Gross Domestic Product (GDP) grew by 8.1% in 2021, after shrinking by 2.2% in 2020, due to the Covid pandemic, the Central Bureau of Statistics reported on Thursday. The growth figure for 2021 beat the Bank of Israel forecast of 7.5%, according to the Globes report.

Globes also reported that Israel’s population grew by 1.7% in 2021, so that GDP per capita grew by 6.3% after shrinking by 3.9% in 2020. GDP per capita rose by an average of 5% in OECD countries in 2021.

After seasonal adjustments, Israel’s GDP grew 16.6% on an annualized basis in the fourth quarter of 2021, after growing at only 2.4% in the third quarter, according to the Globes report.

Imports of goods and services in 2021 rose 18.7% after falling 9.5% in 2020. Private consumption in Israel rose 11.7% in 2021, after falling 9.2% in 2020. Private consumption per capita in 2021, rose 9.9%, very close to the Bank of Israel forecast of 10%, as was reported by Globes.