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Israel second in Western world (illustration)
Photo: Index Open

IMF: Arab countries ahead of Israel in growth rate

Though Israel's growth forecast high among Western states, it falls behind Lebanon, Syria

Arab countries are ahead of Israel in their growth forecast for 2010, the International Monetary Fund said in its annual world economy outlook report Wednesday.

 

The data indicate that Israel's growth rate will reach 3.8% this year – the second highest rate in the Western world after Sweden. However, in comparison with Muslim states, including those which share a border with Israel, the Jewish states is lagging far behind. Growth in Qatar is expected to reach 18.6%; Lebanon – 8%; Turkey – 7.8%, Egypt – 5.3% and Syria – 5%.

 

The report, however, does bring some good news for the Western world: Sanctions on Iran have proved successful and after years of positive growth, 2010 sees a mere 1.6% growth rate. This suggests that the standard of living in the Islamic Republic is slated to drop significantly.

 

Most Western countries' growth forecasts are considerably lower than that of Israel and some have negative forecasts for 2010. Sweden's growth is expected to reach 4.4% (the only Western country topping Israel); Germany – 3.3%; Canada – 3.1%; Switzerland – 2.9%, United States – 2.6%, Holland – 1.8%; Britain – 1.7%; France – 1.6% and Italy – 1%.

 

The IMF report further suggests that Israel's unemployment rate will drop next year to 7.2%. It should be noted, however that currently the unemployment rate is 6.3%.

 

 


פרסום ראשון: 10.07.10, 10:48
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