CBS: in 2005 economy grew by 5.2%

A new estimate published last week by the Central Bureau of Statistics ( CBS ) showed that the Israeli economy grew last year by 5.2%, while business production went up by 6.6%.
 
The 2005 growth rate is among the highest in the Western world. In 2004, Israel's economy grew by 4.4%, compared to 1.7% in 2003.
 
According to the CBS Israel's population grew in 2005 by 1.8%, which means that the gross domestic product increased by 3.3%, following a 2.6% increase in 2004.
 
The CBS also noted that in 2005 private per-capita consumption grew by 2.1%, following a 3.2% rise in 2004. The per-capita consumption figures represent the rise in the standard of living.
 
Sources at the ministry of finance noted that earlier estimates made by the Treasury put the growth figure for 2005 at 4.9% and predicted the growth rate will decline to 3.9 percent in 2006.
 
The CBS also noted that public expenditures in 2005 rose by 2.7% due to the Gaza disengagement and the construction of the West Bank security fence.