Finance Ministry Raises 2006 Growth Forecast To 5.3%
ATID-EDI Ltd.FORTNIGHTLY REPORT
06/19/06

The growth of Israel's GDP is expected to exceed previous expectations for the year 2006. On May 22nd the Israeli finance ministry announced that they estimated that the country's GDP would grow by 5.3%, an increase that surpassed an earlier estimate of 4.1% growth. The 5.3% growth rate is comparable to the 2005 growth rate of 5.2%. For the sake of comparison America's GDP grew by 3.5% in 2005 and France's grew by 1.4%. The new Israeli minister of finance attributed this robust growth to the policies of former finance minister Binyamin Netanyahu. The GDP has been growing steadily since 2003 when it first started to rebound from losses that it suffered during the second intifada.
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