IMF predicts lower Israel GDP growth in 2012

September 20, 2011 23:10


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The IMF predicted Wednesday that Israel's GDP growth will slow to 3.2 percent in 2012 from 4.8% in 2011. The figures appear in the World Economic Outlook for September 2011, published on the eve of the World Bank-IMF Annual Meeting.

The IMF also said that Israel's inflation rate will rise from 2.7% in 2010 to 3.4% in 2011 and fall back to 1.6% in 2012. It predicts that Israel's unemployment will fall from an average of 6.7% in 2010 to 5.9% in 2011 and 5.8% in 2012.

The IMF predicted Iraq will have the fastest GDP growth in the Middle East, at 9.6% in 2011 and 12.5% in 2012.

Egypt, in the wake of the collapse of the Mubarak regime, will see its GDP growth rate tumble from 5.1% in 2010 to 1.2% this year and 1.8% in 2012, mainly due to the slump in tourism.

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