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September 17, 2015 10:08 am

International Monetary Fund: Israeli Economy Strong, High Growth Predicted

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Israel's Central Bureau of Statistics released statistics about the population of Jerusalem (pictured) for Jerusalem Day 2015. Photo: Wikimedia Commons.

A high rate of economic growth in Israel is expected for the coming year. Photo: Wikimedia Commons. – The Israeli economy flourished this past year and a high rate of economic growth is projected for the coming year, according to the annual report on Israel’s economy published Wednesday by the International Monetary Fund (IMF).

The report is based on the evaluation of a senior IMF delegation that visited Israel. According to the IMF’s economists, Israel was relatively unhurt by the global crisis of 2009 and remains a country whose open economy is well-integrated with the international economy. The IMF economists said Israel has an advantage in its high-tech industry, which accounts for more than 40 percent of the country’s industrial exports.

But economists warned that a continued 4% increase in Israeli housing prices each year presents a social danger. The report also noted that the income gap between the highest earners and the lowest earners in Israel was among the highest in the West.

The IMF predicted Israel’s economic growth would be 2.5% in 2015 and 3% in 2016.

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