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IMF SEES ISRAELI GROWTH LEADING THE WORLD IN 2009

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Thursday, November 12th, 2009

Only five other developed economies are forecasted to do better

The IMF in its World Economic Outlook Update said it expected Israel’s gross domestic product to contract by only 0.1% in 2009, and grow by 2.4% in 2010.

Compared with other developed economies, the IMF’s forecast for Israel’s GDP in 2009 is better than its forecasts for all other developed economies, including the US (-2.7%); the Euro Bloc (-4.2%); Germany (-5.3%); Japan (-5.4%); South Korea (-1%), and Singapore (-3.3%).

For developed economies as a whole, the IMF predicts an overall contraction of 3.4% in 2009.