IMF raises growth forecast for Israel's economy

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The IMF also sees prices rising 0.2% in Israel this year after three years of negative inflation.

The International Monetary Fund (IMF) has raised the growth forecast for Israel's economy in its latest report about the world economy issued before its annual conference in Washington DC. The IMF sees 3.1% GDP growth in 2017 and 3.4% GDP growth in 2018. In its April report, the IMF predicted 3% GDP growth in both 2017 and 2018.

In its latest report, the IMF economists predict 0.2% inflation in Israel this year and 0.5% in 2018, thus ending three consecutive years of negative inflation between 2014 and 2016.

The IMF also revised upwards its forecast for global GDP growth to 3.6% this year and 3.8% in 2018 - both figures are 0.1% higher than previous estimates.

The IMF sees 2.2% growth in the US in 2017 and 2.3% in 2018, and 2.1% growth in the euro zone in 2017 and 1.9% next year. Emerging economies will grow 4.6% in 2017 and 4.9% in 2018.

Published by Globes [online], Israel business news - www.globes-online.com - on October 11, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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Growth Photo: Shutterstock
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