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ISRAELI GROWTH PER CAPITA IN 2009 2ND HIGHEST AMONG OECD COUNTRIES

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Friday, April 9th, 2010

As reported in Invest in Israel, The Central Bureau of Statistics said that Israel’s GDP rose by an annualized 4.9% in the fourth quarter of 2009 and that growth for the year was 0.7%, slightly higher than earlier estimates. Given Israel’s population growth rate of 1.7%, GPD per capita only declined by 1.1%, placing it second among OECD countries for having the lowest negative growth per capita after Australia; the OECD average was minus 4%.

Israel’s central bank, Morgan Stanley and other financial institutions have forecasted 3.5% real GDP growth for Israel in 2010 in the absence of extraordinary developments, and Fischer has said the economy may grow more than that if the global recovery accelerates.