(Globes) Hedy Cohen - Plunging oil prices have had a positive effect on the both the global and Israeli economies. According to Bank Hapoalim chief economic advisor Prof. Leo Leiderman, lower oil prices reduce inflation, have a positive impact on economic activity, and improve the balance of payments. While Israel spent $12.7 billion on imported energy in 2014, these expenses totaled $7.5 billion in 2015. "The fall in prices, combined with the transition to natural gas, translates to 2% of GDP."
2016-01-14 00:00:00Full ArticleBACK Visit the Daily Alert Archive