Despite the global growth slowdown and escalation of the US-China trade war, the world will not fall into a recession in the next year or two, Mercantile Bank’s vice president has predicted.
Zion Becker, head of the financial division at Mercantile Bank, made the remarks in his macro-economic review titled “Recession or I Dreamed,” at the annual conference of the Kibbutz Movement, with the participation of Mercantile Bank.
MBT Consultants accounting firm from the Brit Pikuah group organized the event, which took place at the Avenue complex near Ben-Gurion Airport.
In his remarks, Becker referred to the potential consequences of a recession and the tools at the world’s disposal for dealing with them.
“Mercantile Bank continues to be a leading player by creating dedicated credit products and offering solutions outside the box for financing construction and business,” he said.
“Mercantile’s longstanding expertise in providing credit to medium-sized and small businesses, the energy efficiency fund that joined our portfolio this year, and more, provide a broad response to the diverse needs of the kibbutz industry and organizations.”
Maj-Gen. (res.) Eliezer Shkedi opened the conference with a lecture titled “Excellence and its Components – From a Personal and Public Perspective.”
Among the attendees were MK Alon Shuster; Michel Strawczynski, director of the research and development department at the Bank of Israel; Nir Meir, secretary-general of the Kibbutz Movement, and Becker.