The Israel Monetary Fund (IMF) has cut Israel's GDP growth forecast. The IMF sees Israel's economy growing by 3.1% both this year and next year having previously predicted that growth would be 3.3% in both 2019 and 2020. This is the second time this year that the IMF has cut Israel's growth forecast for 2019, having lowered it from 3.5% to 3.3% in April. However, the IMF sees Israeli unemployment remaining low at 4%. RELATED ARTICLES Bank of Israel cuts 2020 growth forecast Israel's fiscal deficit remains stubbornly high Average Israeli monthly salary stays above NIS 11,000 The main reason for the cut is a global slowdown. The IMF has also cut its forecast for global growth from 3.2% this year to 3% - the lowest global growth figure since 2008. Earlier this month the Bank of Israel cut its 2020 growth forecast from 3.5% to 3%. Published by Globes, Israel business news - en.globes.co.il - on October 15, 2019 © Copyright of Globes Publisher Itonut (1983) Ltd. 2019
