Will Jews Become a Minority in Israel?

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A large majority of Israelis are Jewish, the percentage has been decreasing slowly but steadily since the 1960's. Could it be than within the next couple of decades Jews will no longer make up the majority? There has been a steady increase in the Arab population and in recent times there's been an influx of immigrants from places such as Africa China South America and Romania.
The other main religions in Israel are Islam, Christianity and the Druze religion.