Subscribe to Print Edition | Tue., April 01, 2008 Adar2 26, 5768 | | Israel Time: 20:52 (EST+7) web haaretz.com   Back to Homepage Rosner's Domain Diplomacy Defense Jewish World Opinion National Print Edition Advertising Books Arts & Leisure Business Real Estate Easy Start Travel Week's End Anglo File

Bank of Israel Governor Stanley Fischer. (Tess Scheflan / Bau Bau) Last update - 20:49 01/04/2008 Fischer: Israel's growth to slow in 2008 due to global slump By Moti Bassok and Meirav Arlosoroff, TheMarker, and The Associated Press Tags: Economy, Israel, Shekel  Israel's central bank on Tuesday forecast the country's 2008 economic growth at 3.2 percent, compared to 5.3 percent in 2007, but officials said they did not see the country entering a recession. Presenting the Bank of Israel's 2007 report, U.S.-trained governor Stanley Fischer told reporters that the fall was due to the general sluggishness of world economies, particularly that of the United States. "The Israeli economy is dealing in the current period with a very complex situation," Fischer said. "There is no doubt that the Israeli market will be affected by the slowdown in world growth." Advertisement An extract of the report published by the bank said a budget deficit of 1.5 percent of gross domestic product was foreseen for 2008, compared to the balanced budget of 2007. Fischer continued: "We shall manage to grow, albeit at a slower pace, and after the crisis we shall enjoy an even stronger economy." "We would like greater achievements, but Israel's growth this year will still be higher than that of the U.S. and western nations," the central bank governor said. Last month Fischer, a former Wall Street banker, cut the Bank of Israel's benchmark interest rate by half a percentage point to 3.25 percent and ordered a large-scale purchase of dollars. Both moves were aimed at braking the sharp slide in the value of the American dollar against the Israeli shekel. Related articles: Fischer: Bank of Israel to avoid meddling in int'l currency market Fischer: Growth in education spending far below OECD average Bank of Israel cuts interest rate to lowest level in history Bookmark to del.icio.us   The gift of dignity T.A. charity provides female drug addicts with shower, meal and counseling. Sign of life Hamas leader says Gilad Shalit is still alive after two years in captivity.

Today Online Hamas TV puppet 'kills' Bush as revenge for U.S., Israeli actions Responses: 212 Editorial: Israel's settlement policy is one of deception Responses: 105 Barak heeds Rice, softens stance on PA running Gaza crossings Responses: 57 'If rabbis won't marry interfaith couples, they should send them to someone who will' Responses: 25 Rosner's Domain Clinton and Obama voters support Israel in similar numbers Guest: Rabbis who don't officiate intermarriage should refer to rabbis who do Poll: What percentage of Jews will vote McCain? 38% for pressuring Palestinians, 25% for pressuring Israel (WTR) More Headlines 16:33 Barak: Gaza crossings may open if violence stops 20:18 WHO: Israel turning away sick Gazans, who die in 'avoidable tragedies' 20:43 Benizri: I've been persecuted for 8 years for no fault of my own 20:49 Fischer: Israel's growth to slow in 2008 due to global slump 16:55 Two civilians lightly hurt in mortar attack on Negev kibbutz 19:47 Falafel oil provides power for T.A. 'Earth Hour' concert 16:42 Facebook, Google founders to attend Jerusalem conference in May 16:38 Yesha Chief Rabbi: Giving arms to the PA is against Jewish law 18:40 Reputed crime family member denies 2004 teen murder 17:31 Police arrest Netivot mother suspected of raping two sons 16:40 Revealing God's female voice 15:29 Shortage of prison cells hampers PA law and order campaign 20:36 U.K. archives shed light on female spy who led anti-Nazi resistance Previous Editions Select Day 31 mar 30 mar 28 mar 27 mar 26 mar 25 mar 24 mar 23 mar 21 mar 20 mar 19 mar 18 mar

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