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IMF Forecasts Israeli Economy to Expand 3.8% in 2011

The International Monetary Fund recently increased its growth prediction for the Israeli economy to 3.8% in 2011 and 2012.

Israel was cited along with Australia, Canada, Korea, Norway and Sweden, as a country in which economic conditions and underlying price pressures are somewhat stronger than in other advanced economies. The IMF also predicted that unemployment in Israel will drop to 5.5 percent in 2011 and 5 percent in 2012 from 6.7 percent last year.

The Bank of Israel has forecast the Israeli economy to grow 4.5% in 2011 and 4% in 2012. The Israeli economy grew 4.5% in 2010, and reached a 4-year record of 7.7% in the fourth quarter of 2010.

Israel’s Investment Promotion Centre