THE ISRAELI ECONOMY -by Estera Wieja
Despite enduring numerous wars, the necessity of huge defence budgets, and the costs of absorbing scores of new and often poor immigrants, Israel today is a major competitor on the global market while also making significant contributions to the world’s technological, scientific and medical advances well beyond its proportional size. Lacking natural resources and with less than a million citizens at its beginning, the world was uncertain whether Israel would survive when declaring its independence back in May 1948. Over six decades later, this small democratic country situated in the turbulent Middle East has become an economic miracle and an inspiration to much of the world.
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