The American website "The Washington Post" publishes an article that compliments Israel's economy and explains how the shekel became the strongest tradable currency in the world and the only one that rose against the dollar for an entire decade.
"At a time when even the most advanced economies are dealing with high inflation rates along with anemic growth and currency devaluation, Israel seems irrevocably unable to function, with voters set to elect their fifth government in less than four years. Not a day goes by without reports of clashes in the West Bank, the danger The repeated use of Hamas missiles fired from Gaza and the danger of a nuclear confrontation with Iran," reads a recently published article.
Complimenting the Israeli economy.
the washington post, photo: none
"But under these headlines hides a more complex reality and that is that this Middle Eastern country, which has 9 million inhabitants, is an economic juggernaut with the highest growth and one of the lowest rates of inflation and unemployment.
On top of that, the shekel is the currency with the best performance in the world among the 31 actively traded and the only one that strengthened against the dollar in the last decade."
"The only one defeated" in the last decade: the shekel, photo: the washington post
It goes on to say that unlike any of the 34 developed economies, Israel is expected to end this year with growth of 5.2% and 3.5% in 2023 and 3.5% in 2024, according to Bloomberg's forecast.
"With unemployment of 3.5% and inflation of about half of the annual rate of the USA and the European Union, Israel is emerging as an indicator not only of stability, but also of innovation." The
Washington Post notes that one of the things that has changed in the last decade is that "corporate Israel has become diverse." None Of the 630 companies located in Israel, it does not make up more than 10% of the value of the Israeli stock market. The technology industry has become the leader in the Israeli economy and it includes 107 companies that make up almost 25% of the market.
Dollar bills // Photo: Reuters // Dollar bills,
From auto parts to medical equipment and solutions for food, water and climate change - the Israeli technology industry is becoming one of the largest industries in the world.
Thus, Israel's innovation center includes Mobileye, a manufacturer of driving systems for 50 car manufacturers, which make up 70% of the global market.
As a reminder, Mobileye recently submitted an application to the US Securities and Exchange Commission for an initial public offering worth $30 billion.
The website also mentions the medical imaging company Nanox, which provides services to hospitals and clinics, the Inovitz company, a manufacturer of light detection sensors and software for autonomous driving, and the Redefine company Meat, a meat producer based on vegetable ingredients, without animal ingredients or animal by-products.
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