A Bleak Year on Israeli Economy

Head of the Israeli Union for Industries, Oud Yad Tera, announced that the year 2002 witnessed a closure of about 60 factories in addition to 150 factories of advanced technological companies in Israel.

He said in front of the annual conference for furniture Industries Union in Israel that the threat of the closure faces about 90 other factories and another 150 advanced technological companies during the year 2003 which started Today.

On his part, Zaaif Finner, Head of Union of independent small companies owners in Israel, asserted that 70% of the small companies are suffering from huge economic difficulties.