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“The global crisis and the decline in the values of Israeli hi-tech companies means that the annual growth rate of the export of services continues to moderate, however it remains, still, significantly higher than in the past.”
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As for the global economy, Befman says that “the International Monetary Fund has again reduced the global growth forecasts, and at the same time updated the inflation forecasts upwards. As expected, the Fed raised the interest rate by another 0.75%. The interest rate increases will continue but possibly at a lower rate. The market is pricing in increases More until the end of this year and interest rate reductions in the second half of 2023.”