{
  "title": "Israel: Staff Report for the 2002 Article IV Consultation",
  "publication": "IMF Staff Country Reports, March 17, 2003",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/30/israle-staff-report-for-the-2002-article-iv-consultation-16425",
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  "summary": "This 2002 Article IV Consultation highlights that the Israeli economy is in the midst of a deep recession. Waning exports and investment, combined with stagnant private consumption, led to negative growth in 2001 and 2002.",
  "sections": [
    {
      "heading": "Economic overview and main findings",
      "content": "- The Israeli economy is \"in the midst of a deep recession.\"\n- Waning exports and investment, combined with stagnant private consumption, led to negative growth in 2001 and 2002.\n- Recent indicators suggested that economic activity is stabilizing, but \"there are no signs of recovery in sight.\""
    },
    {
      "heading": "Causes of the downturn (as identified in the report)",
      "content": "- The burst of the technology bubble.\n- The global slowdown.\n- The deterioration in the security situation."
    },
    {
      "heading": "Structural developments and policy actions",
      "content": "- The government has pushed forward a broad-based tax reform.\n- The government introduced some labor market reform measures."
    },
    {
      "heading": "Subject coverage and keywords (as listed)",
      "content": "- Subjects: Banking, Expenditure, External debt, Financial services, Inflation, Prices, Public debt, Real interest rates\n- Keywords: CR, deficit, deficit target, expenditure adjustment, finance minister, GDP ratio, Global, government, Inflation, ISCR, Real interest rates, staff appraisal\n\n---\n\n Content in this bundle\n\n- cr0375\n  - cr0375 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr0375 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: March 17, 2003",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451819489.002",
    "The Israeli economy is \"in the midst of a deep recession.\"",
    "Waning exports and investment, combined with stagnant private consumption, led to negative growth in 2001 and 2002.",
    "Recent indicators suggested that economic activity is stabilizing, but \"there are no signs of recovery in sight.\"",
    "The burst of the technology bubble.",
    "The global slowdown.",
    "The deterioration in the security situation.",
    "The government has pushed forward a broad-based tax reform.",
    "The government introduced some labor market reform measures.",
    "Subjects: Banking, Expenditure, External debt, Financial services, Inflation, Prices, Public debt, Real interest rates",
    "Keywords: CR, deficit, deficit target, expenditure adjustment, finance minister, GDP ratio, Global, government, Inflation, ISCR, Real interest rates, staff appraisal",
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