It was stated in the World Economic Outlook report that Israel’s ecomomic groth is expected to reach 4.2% compared to the BOL's 4%
The International Monetary Fund (IMF) expects global activity to expand by 4.8% in 2010 and by 4.2% in 2011, similar to its last forecasts three months ago.
In its half-yearly health check, the Washington-based fund said the globaleconomy remained fragile and stressed that high unemployment posed risks of social upheaval.
The IMF has forecasted higher economic growth for Israel in 2010 than the Bank of Israel. 4.2% compared to the BOL's recently revised 4%. However, both the IMF and the BOL expect growth to slow somewhat in 2011 and have made the same prediction of 3.8%.
The IMF numbers were published as part of the World Economic Outlook report. Advanced economies, such as the UK, would slow down in the second half of this year and the first half of 2011, followed by a reacceleration of growth. "Slack will remain substantial and unemployment persistently high”.
Other countries have also seen their growth projections cut by the fund. The US, the world's biggest economy, is now expected to grow by 2.6% this year and 2.3% in 2011, 0.7% and 0.6% lower respectively than envisaged in July.
China and India will be the fastest-growing emerging economies in both 2010 and 2011, according to the fund. Output will slow slightly in both countries: from10.5% to 9.6% in China and from 9.7% to 8.4% in India.
