Israel economy seen growing at 5-year low of 2.0 percent in 2014

September 22, 2014 12:26 PM

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JERUSALEM (Reuters) - Israel's economy will grow by 2.0 percent in 2014, its slowest pace in five years due to declines in exports and investment and well below a 3.2 percent rate in 2013, the Central Bureau of Statistics said on Monday.

It comes after the Finance Ministry last week chopped its 2014 growth estimate to 2.4 percent from 2.9 percent due to the impacts of the 50-day war with Palestinian militant group Hamas and a weaker global environment.

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