The IMF published its forcest which indicates that the rate of economic growth in Israel during 2006-2007 will be substantially higher than that of most developed countries in Europe & in North America
The International Monetary Fund (IMF) published last Wednesday its bi-annual global forecast indicating that the rate of economic growth in Israel during 2006-2007 will be substantially higher than that of most developed countries in Europe & in North America.
The IMF global forecast says that Israel’s real GDP in 2006 and 2007 will reach 4.2%. This figure is an increase on the IMF’s earlier estimate of real GDP being 3.9%.
According to the global forecast Israel’s economic prospects look much brighter than those of many other developed countries. The forecast expects that the average real GDP growth rate for all the developed economies in Europe, North America and Asia will reach 3% in 2006 and 2.8% in 2007.
The average growth forecast in 2006 for the members of the Euro block is 2% and 1.9% in 2007, while the US will reach real GDP growth of 3.4% in 2006 and 3.3% growth in 2007.
The IMF forecast also noted that:Inflation in Israel will reach 2.4% in 2006 and 2% in 2007. Unemployment in Israel will continue to fall, reaching 8.5% in 2006 and 8.2% in 2007.
