Anyone who is currently looking at the growth forecasts for the Israeli economy published in late 2020 and early 2021 may laugh. The days were the days of the start of the vaccination campaign, and forecasts ranged from optimistic to pessimistic while relying on only one statistic: the immunization rate of the population against the corona virus. A year later, we know that the rapid immunization did take Israel out of the corona crisis for a while, but it also became clear to us that vaccines are not enough. Despite the high immunization rates, variants of the virus (Delta and now Omicron) caused another severe wave of morbidity. Economically, the damage to the economy is now more moderate than it was in previous waves, and focuses on industries such as aviation and tourism. The forecasts in early 2021 were quite conservative. January 2021, …
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