The macroeconomic picture that arises from the updated forecast, as well as the state of the labor market as shown by employment and wage figures, are positive, certainly when taking into account that the state of the global economy is far from one of high growth.
The relatively good macroeconomic situation provides a fitting time to focus on solving fundamental problems in the Israeli economy that may have an effect on its ability to achieve inclusive and sustainable growth. Chief among those are increasing productivity, improving human capital, reducing bureaucracy, and dealing with the long-term implications of expected demographic developments. 4/4  BIS central bankers' speeches