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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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