The IMF also predicts that Israel's inflation will be 3.6% in 2009 and 2% in 2010 and that Israel's unemployment rate will be 8.2% this year
The World Economic Outlook Update, published last week to mark the IMF-World Bank Annual Meeting in Istanbul said that Israel's GDP will contract by 0.1% in 2009, but will grow by 2.4% in 2010.
The IMF's growth forecast of 2.4% for Israel in 2010 is also among the fastest rates projected for next year among developed countries. Only five countries are predicted to do better: Singapore 4.1%; Slovakia and Taiwan 3.7% each; South Korea 3.6%; and Hong Kong 3.5%.
The IMF predicts that the US economy will grow by 1.5% next year, the Euro Bloc will grow by 0.3%, and Japan by 1.7%.
The IMF also predicts that Israel's inflation will be 3.6% in 2009 and 2% in 2010. The Bank of Israel says that 12-month inflation rate through September 2010 will be 2.3%.
The IMF predicts that Israel's unemployment rate will be 8.2% this year, well above the 2008 rate of 6.2%. It also expects the unemployment rate to rise further, to 8.6%, in 2010.
IMF: Israel's economic growth among fastest worldwide
The IMF also predicts that Israel's inflation will be 3.6% in 2009 and 2% in 2010 and that Israel's unemployment rate will be 8.2% this year
13.10.09 / 00:00
•
More articles that may interest you
UTi Logistics Israel ranks first in BdiCode 2009
Orian Ltd. to adopt Israel's windsurfer Olympic medalist Shahar Tzuberi
Maersk line announced two new services To/Fm Russia and Turkey
Zim announced the expansion of Adriatic/eastern Med service
Danaos: Zim unilaterally cuts charter payments by 35%
Israel moved back to standard time on Sunday
More news from Industry & Trade Section
>Israel's exports between June-August '09 up 25%/21.09.09
>On eve of Jewish New Year 5770: Israel's population 7.46m/21.09.09
>Israel's Q2 GDP +1% Annualised/21.09.09
>Yom Kippur Falls on 27/28 September 09/21.09.09
>1.7m visitors between January and August 2009/21.09.09
>Mongolia and Israel: tourism cooperation agreement signed/21.09.09
>Eurochambres held two days meeting in Israel/14.09.09
>OECD updates growth forecasts for Israeli economy/14.09.09
>Israel's Treasury: budget deficit to be lower than expected/14.09.09
>Israel, ECOWAS sign MOU on Cooperation/14.09.09