Israel: Staff Report for the 2003 Article IV Consultation
June 3, 2004
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This 2003 Article IV Consultation highlights that Israel’s economy has entered a modest recovery path, after almost three years of recession. Led by external demand, real GDP is estimated to have grown 1.3 percent in 2003, despite anemic investment. Furthermore, high frequency indicators suggest that output is recovering, private consumption is growing, and tourism is rebounding. The external current account deficit continues to fall and is now close to balance. The sizable capital outflow of the last quarter of 2002 and the first quarter of 2003 has been reversed, and foreign direct investment has rebounded.
Subject: Banking, Budget planning and preparation, External debt, Inflation, Inflation targeting, Monetary policy, Prices, Public debt, Public financial management (PFM)
Keywords: Budget planning and preparation, CR, current account, defense budget, GDP, Global, Inflation, inflation expectation, Inflation targeting, ISCR, ministry procurement budget, NIS, staff appraisal
Pages:
44
Volume:
2004
DOI:
Issue:
158
Series:
Country Report No. 2004/158
Stock No:
1ISREA0022004
ISBN:
9781451819533
ISSN:
1934-7685
