The International Monetary Fund ( IMF) in its twice yearly assessment of the world's economy, predicted that growth in the Israeli economy in 2004 will reach 3.6%. The IMF also placed Israel in its list of the 29 most developed countries of the world.
The World Economic Outlook report published by the IMF places the G7 - U.S., Japan, Germany, Britain, France, Italy and Canada - at the top of the list of the most developed nations the report lists another 22 nations - such as Switzerland, Singapore, Australia, New Zealand, Taiwan, Hong Kong and Sweden as well as Israel - as "other developed economies."
In its long economic assessment the IMF forecast that the growth in the economy will match the average growth rate for the 29 developed countries of the world.
(The treasury has forecasted a growth of 3.8% and the Bank of Israel forecasted growth of 3.7%.
according to the IMF growth rate in 2005 is expected to be higher than the developed nations' average growth of 2.9%, and should reach 3.5% in 2005. (the Bank of Israel predicted for 2005 GDP growth rate of 3.8%)
In the section devoted to the Israel's economy, the IMF notes that the economic recovery has been subject to the turnaround in the global economy, particularly the recovery in the high- tech sectors as well as growth in private consumption.
The report also noted that growth in the consumer price index has been kept within the target range of the central bank ; between 1% – 3% a year.
The IMF also noted that the Bank of Israel's monetary policy was in line of the Government's fiscal policy.
