Israel: 2018 Article IV Consultation-Press Release and Staff Report
IMF Staff Country Reports, May 1, 2018
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- Israel: 2018 Article IV Consultation-Press Release and Staff Report
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Bibliographic details
- Published: May 1, 2018
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484353301.002
Overview
- Israel’s economy is growing well with inflation remaining low and the housing market cooling.
- Prospects for the next few years are for growth to remain around 3½ percent with inflation rising gradually.
Economic performance and outlook
- Growth of about 3½ percent in 2017.
- Prospects: growth to remain around 3½ percent in the next few years.
- Inflation: expected to rise gradually but remained below the 1–3 percent target range as of early 2018.
Labor market and wages
- Unemployment was brought below four percent in early 2018.
- Wage growth: robust wage rises averaging 3¼ percent.
Inflation and exchange rate
- Inflation remained below the 1–3 percent target range.
- Partly owing to the appreciation of the shekel, inflation stayed low.
Housing market
- House price increases slowed to below two percent.
- Slowdown attributed to proposed tax measures deterring investor interest.
Key statistics
- Growth (2017): 3½ percent
- Unemployment: below four percent (early 2018)
- Wage rises: averaging 3¼ percent
- Inflation target range: 1–3 percent
- House price increase: below two percent
Source: Israel: 2018 Article IV Consultation-Press Release and Staff Report (May 1, 2018).
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- Country Report