Tel Aviv Stock Exchange sums up the past year: 94 new companies were issued in an initial public offering

The Tel Aviv Stock Exchange sums up the past year ahead of Rosh Hashanah next week with a flood of technology and optimism issues mixed with fears of the development of the corona plague - according to a review published by Nurit Dror of the Tel Aviv Stock Exchange's research unit. The past Hebrew year has stood out in the flood of issues on the Tel Aviv Stock Exchange. The wave of issues was mainly characterized by technology issues. 94 new companies were issued in an initial public offering, of which 63 were high-tech companies and R&D partnerships - the highest level since 1993. In the institutional market on the other hand, "Dror wrote.
According to Dror, the past Hebrew year, which began on September 18, 2020 and ended on September 5, 2021, began in a pessimistic tone, against the background of the Corona plague and the global economic crisis. However, vaccination campaigns, central bank and government support for the economy and the recovery have led to optimism and rate hikes.
"The optimism in the market is also reflected in positive macroeconomic forecasts for the economy for 2021. The Bank of Israel's updated forecast from July 2021 shows that GDP is expected to grow by 5.5% in 2021, after a negative growth of 2.6% in 2020. The inflation rate is expected To be 1.7% in 2021, after a negative inflation of 0.7% in 2020. The monetary interest rate is expected to remain unchanged at 0.1% until the end of 2021. In addition, towards the end of 2007 the government approved the budget for 2022-2021, about three years After the approval of the last budget for 2019, "Dror wrote.
However, it notes some indicators that obscure the optimism in the economy, especially compared to data before the outbreak of the corona. The unemployment rate in July 2021 was about 5.2% (without temporarily absent from work), compared to a low of about 3.3% in February 2020; An increase in the government deficit to about 6.8% of GDP, according to the forecast for 2021, compared with a deficit of about 3.7% of GDP in 2019; And an increase in external debt to about 74% of GDP, according to the forecast for 2021, compared with about 72% in 2020 and about 60% in 2019.