{
  "title": "Israel: Staff Report for 2013 Article IV Consultation",
  "publication": "IMF Staff Country Reports, February 12, 2014",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/israel-staff-report-for-2013-article-iv-consultation-41328",
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  "summary": "This 2013 Article IV consultation highlights the moderate growth of the economy of Israel. Abstracting from the impact of new large-scale natural gas production, GDP growth is estimated to have moderated to about 2.5 percent in 2013, owing in large part to weak investment and exports.",
  "sections": [
    {
      "heading": "Growth outlook and recent performance",
      "content": "- GDP growth is estimated to have moderated to about 2.5 percent in 2013, abstracting from the impact of new large-scale natural gas production.\n- Some pickup is expected in 2014, but the underlying momentum is weaker than before.\n- Weak investment and weak exports are cited as large contributors to the moderation in growth in 2013."
    },
    {
      "heading": "Public debt and fiscal position",
      "content": "- Despite notable progress, Israel’s public debt remains high.\n- The key fiscal challenge is ensuring long-term sustainability while maintaining near-term growth at potential and preventing the buildup of imbalances."
    },
    {
      "heading": "Housing market and financial stability risks",
      "content": "- Continued housing price increases pose risks of a boom-bust cycle in the housing market.\n- Strengthening resilience to shocks is emphasized to mitigate potential housing-market-related vulnerabilities."
    },
    {
      "heading": "Policy challenges and priorities",
      "content": "- Maintain near-term growth at potential.\n- Prevent the buildup of imbalances.\n- Strengthen resilience to shocks.\n- Ensure long-term sustainability of public finances."
    },
    {
      "heading": "Subject coverage and keywords (as listed)",
      "content": "- Subject: Banking, Expenditure, Fiscal policy, Housing prices, Inflation, Prices, Public debt\n- Keywords: appreciation pressure, CR, deficit, expenditure growth, expenditure rule, GDP, Global, Housing prices, Inflation, inflation expectation, ISCR, liability positions vis-à-vis nonresident, revenue collection"
    },
    {
      "heading": "Publication and document identifiers",
      "content": "- Publication date: February 12, 2014\n- Pages: 74\n- Volume: 2014\n- Issue: 047\n- Series: Country Report No. 2014/047\n- DOI: https://doi.org/10.5089/9781475517750.002\n- Stock No: 1ISREA2014001\n- ISBN: 9781475517750\n- ISSN: 1934-7685\n\nInternational Monetary Fund, Israel: Staff Report for 2013 Article IV Consultation, February 12, 2014.\n\n---\n\n Content in this bundle\n\n- Israel: 2013 Article IV Consultation; IMF Country Report 14/47; January 24, 2014\n  - Israel: 2013 Article IV Consultation; IMF Country Report 14/47; January 24, 2014 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Israel: 2013 Article IV Consultation; IMF Country Report 14/47; January 24, 2014 (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
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    "Published: February 12, 2014",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475517750.002",
    "GDP growth is estimated to have moderated to about 2.5 percent in 2013, abstracting from the impact of new large-scale natural gas production.",
    "Some pickup is expected in 2014, but the underlying momentum is weaker than before.",
    "Weak investment and weak exports are cited as large contributors to the moderation in growth in 2013.",
    "Despite notable progress, Israel’s public debt remains high.",
    "The key fiscal challenge is ensuring long-term sustainability while maintaining near-term growth at potential and preventing the buildup of imbalances.",
    "Continued housing price increases pose risks of a boom-bust cycle in the housing market.",
    "Strengthening resilience to shocks is emphasized to mitigate potential housing-market-related vulnerabilities.",
    "Maintain near-term growth at potential.",
    "Prevent the buildup of imbalances.",
    "Strengthen resilience to shocks.",
    "Ensure long-term sustainability of public finances.",
    "Subject: Banking, Expenditure, Fiscal policy, Housing prices, Inflation, Prices, Public debt",
    "Keywords: appreciation pressure, CR, deficit, expenditure growth, expenditure rule, GDP, Global, Housing prices, Inflation, inflation expectation, ISCR, liability positions vis-à-vis nonresident, revenue collection",
    "Publication date: February 12, 2014",
    "Pages: 74",
    "Volume: 2014",
    "Issue: 047",
    "Series: Country Report No. 2014/047",
    "DOI: https://doi.org/10.5089/9781475517750.002",
    "Stock No: 1ISREA2014001",
    "ISBN: 9781475517750",
    "ISSN: 1934-7685",
    "**Israel: 2013 Article IV Consultation; IMF Country Report 14/47; January 24, 2014**"
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