IMF raises Israel growth forecast, cuts world forecast

Tel Aviv cafes in Dizengoff Photo: Cadya Levy

The International Monetary Fund has raised Israel's GDP growth forecast for 2021 from 5.5% to 7.1%.

The International Monetary Fund (IMF) has sharply raised the GDP growth forecast for Israel's economy in 2021 from 5% to 7.1%. At the same time the IMF has cut its forecast for GDP growth in Israel in 2022 from 4.3% to 4.1%. The IMF issued its last forecast for Israel in April.

The IMF's growth forecast is slightly more optimistic than the Bank of Israel for 2021, which sees 7% GDP growth this year. But the Bank of Israel sees 5.5% growth in 2022.

At the same time, the IMF has cut its global growth forecast for 2021 from 6% to 5.9% due to rising inflationary concerns. The IMF sees global growth of only 4.9% in 2022, mainly because of global supply chain disruptions.

Published by Globes, Israel business news - en.globes.co.il - on October 12, 2021

Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Tel Aviv cafes in Dizengoff Photo: Cadya Levy
Tel Aviv cafes in Dizengoff Photo: Cadya Levy
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