Israel: 2010 Article IV Consultation—Staff Report; Public Information Notice on the Executive Board Discussion

International Monetary Fund

No 2011/021, IMF Staff Country Reports from International Monetary Fund

Abstract: Israel was mildly affected by the global recession: following a slowdown in 2009, output is projected to grow by some 4 percent in 2010, led by consumption and exports. Robust fundamentals—including sustained pre-crisis fiscal consolidation—and a swift monetary and fiscal policy response to the external downturn allowed Israel to pass through the global recession relatively unscathed. The resilience of the economy has been strengthened by the adoption of new fiscal rules capping spending and deficits.

Keywords: ISCR; CR; monetary policy; Israel; Q2; liability positions vis-à-vis nonresident; swift monetary policy; output gap; consultation cycle; IMF's view; Central bank policy rate; Inflation; Budget planning and preparation; Housing prices; Global (search for similar items in EconPapers)
Pages: 50
Date: 2011-01-24
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