IMF: Israel's economic growth among fastest worldwide

The IMF also predicts that Israel's inflation will be 3.6% in 2009 and 2% in 2010 and that Israel's unemployment rate will be 8.2% this year
 
The World Economic Outlook Update, published last week to mark the IMF-World Bank Annual Meeting in Istanbul said that Israel's GDP will contract by 0.1% in 2009, but will grow by 2.4% in 2010.
 
The IMF's growth forecast of 2.4% for Israel in 2010 is also among the fastest rates projected for next year among developed countries. Only five countries are predicted to do better: Singapore 4.1%; Slovakia and Taiwan 3.7% each; South Korea 3.6%; and Hong Kong 3.5%.
 
The IMF predicts that the US economy will grow by 1.5% next year, the Euro Bloc will grow by 0.3%, and Japan by 1.7%.
 
The IMF also predicts that Israel's inflation will be 3.6% in 2009 and 2% in 2010. The Bank of Israel says that 12-month inflation rate through September 2010 will be 2.3%.
 
The IMF predicts that Israel's unemployment rate will be 8.2% this year, well above the 2008 rate of 6.2%. It also expects the unemployment rate to rise further, to 8.6%, in 2010.