The International Monetary Fund (IMF) has positive predictions for the State of Israel. The IMF expressed confidence that the Israeli economy will recover from current slowdowns more rapidly than any other developed country. Among the optimistic predictions made by the IMF is a projected growth of 5.4% next year and a reduction of one percent in unemployment rates. The IMF projections are in stark contrast to the Finance Ministry budget proposal based on a 4% growth and area economists and the Bank of Israel projecting growth of 2-3%. However, like the Bank of Israel, the IMF recommends against budget expansion, but need not make cuts in the budget.
In other positive economic news, the international credit rating agency Standard & Poor's (S&P) also predicted economic growth for the Israeli economy next year. S&P praised the State of Israel's commitment to its monetary and fiscal policies in its first such report on Israel since the terror attacks on the U.S. The S&P report reaffirmed the State of Israel?s single A minus credit rating, noting its ongoing reforms, economic liberalization and participation in the global economy. Such a rating, according to the Atid-EDI Ltd.?s Fortnightly Report, is an expression of faith in the Israeli economy and makes borrowing less expensive for both the public and private sector.
In other positive economic news, the international credit rating agency Standard & Poor's (S&P) also predicted economic growth for the Israeli economy next year. S&P praised the State of Israel's commitment to its monetary and fiscal policies in its first such report on Israel since the terror attacks on the U.S. The S&P report reaffirmed the State of Israel?s single A minus credit rating, noting its ongoing reforms, economic liberalization and participation in the global economy. Such a rating, according to the Atid-EDI Ltd.?s Fortnightly Report, is an expression of faith in the Israeli economy and makes borrowing less expensive for both the public and private sector.