(Bloomberg) -- The current wave of the coronavirus is “not a macroeconomic event” at this stage, Bank of Israel Governor Amir Yaron told the Knesset Finance Committee on Monday, forecasting a minor hit to expected growth of up to 0.2 percentage points.
In a statement released by the committee, Yaron recommended the government continue to offer compensation to specific industries hurt by rising case numbers while preparing an emergency plan in case it's needed. The governor stuck by the bank's forecast for GDP expansion of 5.5% in 2022.
Israel Doesn't Plan Widespread Business Support for Omicron Wave
Israel has seen a spike in infections that's predicted to soon reach more than 50,000 a day. As recently as mid-December, daily cases were in the hundreds. Hospitalizations remain significantly lower than in previous waves but have been rising.
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