Subscribe to Print Edition | Sun., November 23, 2008 Cheshvan 25, 5769 | | Israel Time: 01:14 (EST+7)   Back to Homepage web haaretz.com Haaretz Toolbar Diplomacy Defense Jewish World Opinion National Print Edition Car Rental Books Haaretz Magazine Business Real Estate GA 2008 Travel Week's End Anglo File

Bank of Israel halves 2009 growth forecast By Moti Bassok Tags: Israel News The Bank of Israel yesterday updated its economic growth forecasts for the second time in a month. It cut its 2008 growth forecast from 4.7% to 4.3%, and chopped almost in half its estimate for next year from 2.7% to only 1.5%. Only two days ago Finance Ministry director general Yarom Ariav estimated 2009 economic growth at about 2%. The Israeli economy grew 5.3% in 2007. The update follows the International Monetary Fund's lowering of its forecasts for 2009. Advertisement The central bank predicts that unemployment will reach 7% next year, up from 6.1% this year. In 2007 the jobless rate hit 7.3%. The bank predicts that unemployment may even rise above 7% by the end of next year. The central bank also predicts lower growth in a raft of economic parameters for 2009: exports, imports, industrial production, private consumption and consumer spending. In addition, the budget deficit will rise, from zero in 2007 to 1.6% this year and 2.7% next year. However, the Bank of Israel expects Israeli economic growth to be higher than in other developed nations. Bookmark to del.icio.us   Mikaeel Jackson Report: Pop star Michael Jackson converts to Islam. Peace now Abbas calls on Obama to enact Arab peace plan as soon as he takes office.

Read & React 20,000 Jewish pilgrims to descend on Hebron amid settler violence Responses: 222 Experts argue: How close is Iran to its first nuclear weapon? Responses: 135 Video: Prof. Avi Shlaim says settlements turn Israel into Apartheid state Responses: 181 Debate over Museum of Tolerance - an exchange Responses: 23 PLO official Yasser Abed Rabbo: The Palestinian people need Obama's help Responses: 76 Gideon Levy: Israeli left was born in sin and died because of a lie Responses: 91 More Headlines 21:39 Settler teens attack Border police in Hebron 21:55 Qassams strike western Negev in latest threat to fragile truce 00:20 Obama's Mideast peace platform is coming into focus 15:00 Abbas calls on Obama to enact Arab peace plan as soon as he takes office 22:13 Top Israeli diplomats in Turkey kicked out of Istanbul university 22:49 Hollywood in Netanya: Ben Stiller and Chris Rock in coastal city for 'Madagascar 2' premiere 01:12 Saudi Arabia denies report it offered asylum to Taliban leader 00:22 Hezbollah: 'Zionist Lobby' behind Germany's decision to ban Al-Manar TV station 10:08 Iran executes man convicted of spying for Israel 23:00 Visiting Argentine president offers Libya help with nuclear power 13:11 Your land is my land 20:47 Report: Pop star Michael Jackson converts to Islam 19:59 Peru police nab Israeli for plotting to smuggle a half a ton of cocaine to Europe 13:10 Report: Hezbollah carries out military drills in south Lebanon 16:10 Syria: No more UN visits to alleged nuclear site Previous Editions Select Day 21 nov 20 nov 19 nov 18 nov 17 nov 16 nov 14 nov 13 nov 12 nov 11 nov 10 nov 09 nov

Special Offers Advertisement Living in Israel Studying in English Click & Meet our students from all around the world Dan Boutique Jerusalem New Dan Hotel in Jerusalem Young, Fun & Distinctively Dan Book Now Online! Fattal Hotel Chain Perfectly located hotels on best resorts of Israel. Car rental in Israel Shlomo Sixt Receive $15.00 from our low rates. Dial 013 for your long-distance calls and get all your money back US CITIZENS Vote for real change. Request your ballot today! Eldan Rent a Car Israel's leading car rental company offers you a 20% discount on all online reservations Jewish Singles Personal Ads Find the love of your life on JDate.com Israel's Premier Real Estate Website www. israel-property.com Hebrew Summer courses From $39.95 Junkyard Junk a car - get free towing nationwide and a tax-deductible receipt

Home | TV | Print Edition | Diplomacy | Opinion | Arts & Leisure | Sports | Jewish World | Underground | Site rules |

Real Estate in Israel | Travel to Israel with Haaretz | Hotels Israel | Restaurants Israel | Tourist attractions Israel | Shops Israel

birthright Israel | Search engine marketing

Haaretz.com, the online edition of Haaretz Newspaper in Israel, offers real-time breaking news, opinions and analysis from Israel and the Middle East. Haaretz.com provides extensive and in-depth coverage of Israel, the Jewish World and the Middle East, including defense, diplomacy, the Arab-Israeli conflict, the peace process, Israeli politics, Jerusalem affairs, international relations, Iran, Iraq, Syria, Lebanon, the Palestinian Authority, the West Bank and the Gaza Strip, the Israeli business world and Jewish life in Israel and the Diaspora.

© Copyright  Haaretz. All rights reserved