As measured by GDP, the Israeli economy grew at a healthy rate of 6.8% on an annualized basis in the second quarter of 2022, the Central Bureau of Statistics (CBS) said on Sunday.
That followed a 2.7% drop in GDP year on year in the first quarter.
The Israeli economy has grown faster since the second quarter of 2021 than any other OECD member country that has reported results.
During those 12 months, Israel’s GDP increased by 7.4 percent, compared to 7.1% in Portugal, 6.3% in Spain, 6.2% in Austria, 5.4% in the Netherlands, 4.1% in Sweden, 3% in South Korea, and barely 1.7% in Germany and the United States.
“The return to routine in the second quarter led to the rise in GDP,” said the CBS, adding that hospitality and air-travel services, as well as tourism from other countries, contributed to the rise in GDP in the April-June period.
However, not all Israelis benefit from the country’s economic success. Many low-income families throughout the Jewish State still struggle to put food on the table. For them, organizations like Colel Chabad are there to help.
The Colel Chabad organization and its operations to provide food to the Israelis who need it most is a critical source of assistance at this time. They give supermarket gift cards and deliver groceries to hungry families throughout Israel. However, Colel Chabad relies on donors to continue this critical aid.
Can you help Colel Chabad feed Israeli families unable to pay their bills?
Please consider donating to Colel Chabad today – a great way to bless Israel during the High Holiday season.