The decline was prompted by evacuations and a record call-up of reservists Israel’s economy faced one of the biggest contractions in the country’s history in the fourth quarter of last year due to the ongoing war with Hamas, a report from the country’s Central Bureau of Statistics revealed on Monday. The country’s GDP slumped by a seasonally adjusted 19.4% in the final three months of 2023, which was the first quarterly drop in Israel’s economy in two years. The contraction was significantly worse than both the Bloomberg and Reuters consensus forecast of a 10% decline. The hostilities paralyzed businesses, prom
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