Israel's economy growing at a rate of 5% in 2007

The Ministry of Finance predicted last week that Israel's economy will grow this year by 5%, after 5.1% growth last year.

In a statement issued by the Ministry it noted that business product is projected to grow by 5.6%, after 6.4% growth last year.
 
The Ministry's main assumption was that there would be no major deterioration in the general security situation in 2007.
-        Inflation is forecast to be less than the 1-3% target in 2007.
-        Public debt will fall to 84% of GDP in 2007 from 86% in 2006.
-        Unemployment rate is projected to fall to a monthly average of 7.4% of the civilian labor force.
-        Investment in fixed assets will rise by 5.5.
-        Exports will grow by 5.1%.
-        Industrial exports, excluding diamonds, will grow by 7.4%.
-        Imports will grow by 4.9%.
-        Private consumption will grow by 4.9%.
-        Public consumption will rise by 2.9%.
-        Real wages will rise by 2.8%.