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There could be bumps ahead in 2010, the finance minister warns.

"There will be aftershocks in 2010 - the economy has been recovering and that is indeed a nice achievement, but we're still in the danger zone," Yuval Steinitz told Channel 1 in an interview over the weekend.

"Even though over the past few months Israel recovered better than other countries, we're still at the beginning of our road, and this requires care as well as fiscal and economic discipline."

Asked whether he agrees with Accountant General Shuki Oren's statement that the gains in the financial markets are "false euphoria," he declined to give a direct answer.

"The finance minister doesn't intervene in the stock market directly. But I share the accountant general's feeling and message he intended to convey - that there will be shocks in the market in 2010.

"This is not only his message; it's the Finance Ministry's message as well," Steinitz said.

Bank officials echoed Steinitz's and Oren's sentiments in a meeting with Finance Ministry officials on Thursday.