The International Monetary Fund (IMF) predicts Israel will have a significantly higher growth rate than most European and North American countries in 2008. The IMF published its predictions in its semiannual global growth forecast on Wednesday.  The IMF predicts 3 percent growth in Israel during 2008, with the Bank of Israel predicting 3.2 percent.  Both institutions predict a 3.4 percent growth rate in 2009.

The United States is expected to grow by less than 1 percent, the EU by 1.2 percent, Japan by 1.5 percent, and the UK by 1.6 percent.

The IMF predicts that Israel will have 2.6% inflation in 2008 and 2% in 2009.