BREAKING NEWS

IMF sees 3.5% growth for Israel in 2011

By AVI TEMKIN / GLOBES

JANUARY 25, 2011 22:45

The IMF said that the strengthening of the shekel in the past few years has hurt the economy's competitiveness and lowered the growth rate. The Article IV Consultation on Israel predicted that the shekel will continue to strengthen, hurting output.

The IMF predicts 3.5% GDP growth for Israel in 2011, a drop in the unemployment rate to 5.5%, and inflation of 2.7%.

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