Israel's economy is poised to shrink 4.2% in 2020 and grow 4.5% next year, the Finance Ministry estimated on Monday in an updated forecast.
But should the coronavirus worsen and another lockdown is imposed, the economy would contract 4.8% this year while growth in 2021 would only be 2.4%, the ministry said.
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In the base scenario, the unemployment rate would average 8.9% next year but reach 12.3% if the health crisis worsens, it projected.
The ministry also foresees economic growth of as much as 4.7% in 2022.
