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27 Cheshvan 5768 - November 8, 2007 | Mordecai Plaut, director Published Weekly
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NEWS
David Klein of Meitav Predicts Slowdown in Economic Growth

M. Green

The accelerated growth characterizing the Israeli economy in the past three years is not expected to continue former Bank of Israel governor Dr. David Klein told chareidi financial reporters as the Meitav Investment House launched marketing activity in the chareidi sector.

Klein, who is currently serving as chairman of the Meitav's advisory board, identifies a slowdown in all of the parameters that comprise the economic growth. Israel's trade surplus, which was at an excellent level of 7 percent, is diminishing. Unemployment is not subsiding, as in the past, and the rate of industrial growth is below normal. The former bank governor said that it's too early to tell whether this is a temporary shift or the beginning of a long-term change.

Meitav executives presented the reporters with a recent study conducted by Motagim showing the chareidi sector's awareness of allocating resources for savings on a monthly basis is very high and the average amount is NIS 825 ($200) per family. The survey also shows that a significant portion of the chareidi sector invests substantial sums periodically.

Meitav presented a variety of financial solutions specially suited to the chareidi sector. The solutions covered the entire spectrum of investment options, from solid to dynamic investments, as well as pension savings, marriage funds, trust fund management, provident funds, study funds and investment portfolio management.

 

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