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Recovery Seen for Israeli Economy

(Washington Times) Economists are predicting growth of 2-3% this year, driven by rising high-technology exports. A strong recovery would be a setback for Palestinian militants, who have counted the recession as proof that their campaign of suicide bombings can help them wring concessions from the Jewish state. "It's possible to say that this is the end of the recession," said David Klein, Israel's conservative central bank chief, in an interview with Ha'aretz daily. Foreign tourism, another victim of Israeli-Palestinian violence, also is expected grow this year. "These signs of improvement are because after three years of intifada, we got the idea, and the economy has adjusted itself," said Shmuel Bar, a fellow at the Herzliya Interdisciplinary Center's counterterrorism institute. "Obviously, the improvement of the economy improves the all-around feeling. It improves the national resilience."
2004-01-08 00:00:00
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