Israel: 2022 Article IV Consultation-Press Release and Staff Report

Volume/Issue: Volume 2022 Issue 081

Publication date: March 2022

ISBN: 9798400207143

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Topics covered in this book

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International - Economics , Inflation , Labor , Money and Monetary Policy , Public Finance , merchandise export , imported wheat , aggregate value , inflation pressure , inflation expectation , Inflation , Labor markets , Housing prices , COVID-19 , Global

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Summary

The Israeli economy has weathered the COVID-19 crisis exceptionally well, but risks are high. With substantial fiscal and monetary support, real GDP growth reached 8.1 percent in 2021, driven by consumption and high-tech exports. The rapid vaccination campaign boosted confidence. The outlook is positive but still subject to high uncertainty.