Israel: Staff Report for the 2004 Article IV Consultation
IMF Staff Country Reports, April 18, 2005
Source details
- Canonical URL
- Israel: Staff Report for the 2004 Article IV Consultation
Other formats
Bibliographic details
- Published: April 18, 2005
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451819564.002
Executive summary and outlook
- Israel’s economic recovery is under way after a prolonged recession.
- Growth is being supported by:
- more favorable global economic conditions,
- an improvement in the security situation,
- appropriate policies, which have included tightening the fiscal stance and easing monetary policy.
- Real GDP grew by an estimated 4.3 percent in 2004.
- Exports and private consumption were the main growth contributors in 2004.
- The economy is expected to continue to strengthen, albeit at a slightly lower growth rate in 2005.
Key findings and themes
- Macroeconomic stabilization:
- Fiscal stance: tightening measures were part of policy adjustments supporting recovery.
- Monetary policy: easing has accompanied fiscal tightening to support growth.
- External sector:
- Exports played a leading role in the 2004 recovery.
- Domestic demand:
- Private consumption contributed significantly to 2004 growth.
Coverage and subject areas
- Subjects covered in the report include:
- Banking, Capital markets, External debt, Financial institutions, Financial markets, Inflation, Mutual funds, Prices, Public debt, Real interest rates.
- Keywords listed:
- authority, budget framework, Capital markets, CR, enforcement authorities, Global, government, Inflation, inflation targeting range, investigation of Bank Hapoalim, ISCR, Mutual funds, policy, staff appraisal.
Content in this bundle
- _cr05133 - Executive Summary and Supplement