The International Monetary Fund also offers no good news for 2010.
The International Monetary Fund (IMF) has lowered its forecast for the Israeli economy in 2009. The IMF sees the Israeli economy contracting by 1.7% compared with its last forecast earlier this year of just a 0.2% contraction. This forecast is more pessimistic than both the Bank of Israel, which predicts a 1.5% contraction in 2009, and the Ministry of Finance, which predicts a 1% contraction this year.
The IMF sees the Israeli economy growing by just 0.3% in 2010 compared with the Bank of Israel's 2010 forecast of 1% growth.
With population growth of 1.7-1.8% annually any economic growth in Israel below this rate is in fact a contraction in GDP per capita.
Published by Globes [online], Israel business news - www.globes-online.com - on May 3, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009The IMF sees the Israeli economy growing by just 0.3% in 2010.