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.
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