Israeli economy continues to grow. Israel's Gross Domestic Product (GDP) grew by 5.4% in the first half of 2010 after a previous 5% rise, data released by the Central Bureau of Statistics on Wednesday indicate.
The data show a rise in the commercial deficit; a significant rise in housing, construction and transportation investment and a sharp rise in per capita expenditure of gas, water and electricity.
Per capita expenditure of basic products rose by 10%. Most notably, per capita car purchases rose by 18.4% in 2010's second half.
A significant rise (7.7%) was noted in the expenditure of gas, water and electricity.
Finance Minister Yuval Steinitz welcomed the figures. "The data reflect the success of the government's original and responsible economic policy. This policy, together with the power of the private sector, the Bank of Israel's prudent policy has led Israel to an impressive economic achievement which sets Israel apart from the majority of OECD states. "
According to Steinitz, the high growth rate has helped reduce unemployment rates. The finance minister noted that the data reflect a rise in most Israelis' quality of life.
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