(Newsweek) - Ever since the latest intifada began two years ago, Israel's economy has gone into a serious slump. Economic output has been shrinking for two years. Unemployment now exceeds 10 percent, and inflation will reach 8 percent this year. The large high-tech industry - which accounted for an astonishing 65 percent of industrial exports in the late '90s - has fallen victim to a worldwide plunge in technology spending. Tourism revenue in 2001 declined by 42 percent compared with the year before.
2002-11-15 00:00:00Full ArticleBACK Visit the Daily Alert Archive