OECD: 2nd virus wave will see Israeli economy shrink by 8.3%

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In the case of a second coronavirus outbreak in Israel in the winter, the country's local gross domestic product (GDP) will shrink by 8.3% in 2020, and will not recover before 2022, said a new report published on Wednesday by the Organisation for Economic Co-operation and Development (OECD).
The organization's economic forecast projects that if the pandemic would end by the summer, the local economy would see a 6.2% negative growth in 2020.
The OECD's economic forecast for Israel is gloomier than that of the Bank of Israel, which projected a 5.3% decline.
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