CBS: Israel Enjoying Longest period of growth since its independence in 1948

According to the Central Bureau of Statistics The standard of living will rise by 4.2% and will have risen by a cumulative 7.1% in 2005-07. In 2006 the GDP rose by 5.3% and business product rose by 6%
 
The Central Bureau of Statistics (CBS) announced last week that Israel's GDP is expected to grow by 5.2% in 2007 and business product will grow by 6%.
 
In 2006 the GDP rose by 5.3% and business product rose by 6%.The CBS also predicts that GDP per capita will rise by 3.4% in 2007 to an all-time high of NIS 92,700 ($22.600).
 
The prediction also noted that private consumption will rise 6% this year, and is up 15% in 2005-07.
 
The standard of living will rise by 4.2% and will have risen by a cumulative 7.1% in 2005-07.
 
Exports are predicted to rise 8.1% and imports by 9.4%. Investment in fixed assets will rise by 10.4% this year and will have grown 25% in 2005-07.
 
The figures, according to the CBS, indicate that Israel's economy is concluding its fifth consecutive year of rapid growth: cumulative growth in 2003-07 will be 23.5%. This is longest period of growth since regaining independence in 1948.
 
The International Monetary Fund noted last week that Israel's economy will expand 3.8% next year, lowering the 4.2% forecast it made six months ago.
 
The IMF also raised its Israeli growth forecast for 2007 to 5.1% from a previous estimate of 4.8%. Inflation is expected to reach 0.5%, after previously forecasting a decline of 0.1% in prices. The government's annual target is for inflation of 1% to 3%.