Bank of Israel: Israeli construction sector losses double expectations. 50% decline in sector activity deducted 3% from GDP in the fourth quarter.
The report estimated that the direct damages resulting from the downturn amounted to NIS 14 billion, double the Finance Ministry's initial estimates. Despite the gradual recovery observed at the end of 2023 and until 2024, challenges remain, according to the report. It calls for a re-evaluation of policies related to preventing the employment of Palestinian workers, noting the ongoing constraints on supply and potential geopolitical ramifications.