IMF: Israel's GDP & inflation falling in 2009

The uncertainty in world economy has led the IMF to cut its global growth projections for 2009 to 3%, the slowest pace since 2002
 
The International Monetary Fund (IMF) released last week its World Economic Outlook (WEO) which presents the IMF staff's analysis and projections of economic developments at the global level, in major country groups (classified by region, stage of development, etc.). The World Economic Outlook focuses on major economic policy issues as well as on the analysis of economic developments and prospects.
 
Due to grim economic prospect the report has cut the growth projections for developed markets (a category which includes Israel).The IMF claims that the world economy is now entering a major downturn period as it faces what the IMF named "the most dangerous shock in mature financial markets since the 1930s".
 
The uncertainty in world economy has led the IMF to cut its global growth projections for 2009 to 3%, the slowest pace since 2002. In so far as Israel is concerned the report said that real GDP growth for Israel is expected to reach 4.3% in 2008, and to fall to 2.8% in 2009, while the Consumer Price Index (CPI) in Israel is expected to total 4.8% in 2008, before falling to 3.3% in 2009.