Israel's standing in international financial markets has been improving, thanks to the security calm and rapid GDP growth.
In its growth projections for 2004, published today, "The Economist" ranks Irael fourth among 29 emerging markets, with an expected $21,0000 GDP per capita, in terms of purchasing power parity (PPP). Among emerging economies, only Singapore, Taiwan and Hong Kong outrank Israel, with GDP per capita of $23,000-28,000.
For the sake of comparison, Israel GDP per capita, in terms of PPP, was 84% higher than Poland's ($11,400), 375% higher than China's ($5,600) and 750% higher than India's ($2,800).
"The Economist" listed a series of economic indicators showing rapid growth in Israel. According to the "The Economist", GDP is now growing at 3.9% a year, well above the estimates of the International Monetary Fund (IMF) (2.5%), the Ministry of Finance (2.8%), and the Bank of Israel (3.4%). Industrial production has surged by an annualized 10.9% since the beginning of the year.
Published by Globes [online] - www.globes.co.il - on June 6, 2004