12:21 - 30.10.2023

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October 30, Fineko/abc.az. Israel's economy is facing potential contraction in the fourth quarter of 2023.

ABC.AZ reports that according to the forecast of JPMorgan Chase&Co., amid escalation in the Gaza Strip, country's GDP may decrease by 11% compared with last year.

However, JPMorgan analysts emphasize that in general, the Israeli economy will continue to grow in 2023, expecting GDP growth of 2.5%, and in 2024 - by 2%.

Analysts also emphasize that assessing the impact of the conflict on the Israeli economy remains difficult due to lack of data and great uncertainty about the scale and duration of the conflict.

On the evening of October 29, it became known that Israel had launched a military operation in the northern part of the Gaza Strip, sending troops. This operation is expected to last at least six weeks.

These actions can seriously affect country's economy and its long-term development prospects, causing additional challenges and uncertainty.