Israel's economic growth is expected to exceed 4% this year, driven by the Nvidia effect boosting income

Israel's Chief Economist at the Ministry of Finance, Shmuel, stated: "Israel's economic growth is expected to exceed forecasts, mainly due to the significant revenue growth driven by NVIDIA's large R&D center in the country. The so-called 'NVIDIA effect' led Israel to revise up its GDP data over the past two years, and is expected to provide a similar boost this year." Abramzon expects annual economic growth to exceed 4% this year, higher than the previous official forecast and the median expectation of 3.6% from analysts' surveys. Growth reached 3.2% in the first half of this year.