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Shoppers at the Machane Yehuda market in Jerusalem after it reopened on May 7, 2020, following weeks of COVID-19 lockdowns. Photo by Olivier Fitoussi/Flash90.

Israeli economy shrinks by more than 7 percent amid COVID-19 crisis

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Israel’s economy contracted by around 7.1 percent in the first quarter, the country’s Central Bureau of Statistics announced on Monday. This was the first quarterly contraction of the country’s gross domestic product (GDP) since 2012,...