Israeli radio has reported that the ministries of finance and economy have both voiced their concern over the revelations.
According to Israel`s Central Statistics Office, the economy grew by 2 percent in the first quarter of this year and had been expected to record 1.5 percent growth in the second quarter.
In the second quarter of 2014, Israel`s economic growth rate stood at 3.3 percent.
Israeli economy expert Aas Atrash attributed the lower-than-expected growth to reduced export volumes, especially in the advanced technology sector.
In comments to Anadolu Agency, Atrash suggested that the trend might be reversed by promoting gas exports.
To this end, the Israeli government last week gave the green light for several companies to look for and extract gas in its Mediterranean gas fields with a view to selling it on regional and international markets.
Atrash, however, is not optimistic about the prospects for a speedy economic turnaround due to a suffering Eurozone and recent declines in the value of Israel`s shekel against the U.S. dollar.
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