web analytics
May 23, 2015 / 5 Sivan, 5775
At a Glance
News & Views
Sponsored Post


Bank of Israel 2011 Report: Economy Grew by 4.7%, Dealt Successfully with Significant Difficulties

Then-Bank of Israel Governor Stanley Fischer submits 2011 report to PM Binyamin Netanyahu

Then-Bank of Israel Governor Stanley Fischer submits 2011 report to PM Binyamin Netanyahu
Photo Credit: Amos Ben Gershom/GPO / Flash90

The Bank of Israel presented its 2011 report on the state of Israel’s economy to the government on Wednesday, in which it stated that Israel’s economy had successfully navigated significant domestic and global difficulties.

“In 2011, Israel’s economy grew by 4.7 percent, similar to its growth rate in 2010,” the report began. It highlighted “rapid growth” in investment in the business sector, as well as the  “continued decline in the unemployment rate to 5.6 percent—its lowest level in more than three decades.”

The report was not all good news, though, as it noted that the European debt crisis forced a reappraisal of the inflation rate and inflation expectations during the year. It also cited an increase of 5.1% in rents and a 9.2% increase in energy prices.

The report also discussed the social protests of last summer, and the measures that have been taken to address them. It warned that since some of the measures approved “are not fiscally balanced, significant adjustments will be required…in order to prevent an increase in the deficit.

Stanley Fischer, Governor of the Bank of Israel told reporters that “[t]he state of the economy is good, but not excellent…Our forecast is that the growth this year will reach a rate of 3.1%, a respectable growth but not on par with the average levels witnessed in 2004-2008.”

Prime Minister Benjamin Netanyahu, after receiving the report said: “The Israeli economy grew more than most Western economies, almost 2.5 times the OECD average…In contrast to the collapsing economies around us, Israel’s credit rating was upgraded last year.”

About the Author: Rafi Harkham is an Editor and Senior Analyst at The Jewish Press.


If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

One Response to “Bank of Israel 2011 Report: Economy Grew by 4.7%, Dealt Successfully with Significant Difficulties”

Comments are closed.

Current Top Story
Tzipi Hotovely, new Deputy Foreign Minister.
Foreign Minister Hotovely: Tell the World ‘God Gave Israel to the Jews’
Latest News Stories
Chabad of Dead Sea brings friends from Arad to create a last-minute celebration sheva brochot with the seven wedding blessings with a new married couple.

At the ninth hour, Chabad of Dead Sea whipped together sheva brochot in 2 hours for a newly wedded tourist couple — out of nowhere.

Tzipi Hotovely, new Deputy Foreign Minister.

Israel finally has a Foreign Minister who is not ashamed to say the word “God.”

Cairo Jews shove and curse a journalist dressed up as a Jew.

An Arab language website sent a reporter, dressed as a Jew, to the streets of Cairo.

Volunteers with Shomer Hachadash.

Eight years ago, an Israeli rancher from Moshav Zippori in the Lower Galilee region reached a breaking point. Thieves and marauders had been targeting Chaim Zilberman’s sprawling ranch; his land was burnt black and cattle fences cut down. On the verge of bankruptcy, the rancher told his family during a Friday Shabbat dinner one night […]

Scotland Yard said it cannot prevent the upcoming neo-Nazi march that is planned for July 4th.

A store in Rafah, Gaza displays women’s Islamic head coverings for sale.

A State Dept. official is in Israel to talk about making the region nuclear-free.

The highway at the property is a favorite spot for PA Arabs to try to throw

Prime Minister Benjamin Netanyahu annual medical report  as written by his personal physician, Dr. Tzvi Berkovitz, states, “Blood tests were completely normal including those for sugar, cholesterol and fats. The Prime Minister’s blood pressure was normal (120/80), aided by light medication.” The reports notes that “Prime Minister Netanyahu trains several times a week at a […]

The President will speak Friday night at Washington’s largest Conservative synagogue, probably to continue to express his opinion that Israel is racist & Israel should embody “Judeo-Christian”/universal values (as opposed to Jewish values). They’re going to lap it up .

This week ISIS captured two major cities, one in Iraq, one in Syria. Assad’s escape plan revealed.

Israeli Pres. Rivlin expresses deep concern after vandals torch a Bnei Akiva building and synagogue in northern Israel.

More than 70 percent of Muslims in Netherlands reportedly view their brethren fighting the “jihad” in Syria as “heroes.”

Israel rejects a Swiss court decision granting $1.1 billion to Iran after an oil deal went sour after the Islamic Revolution.

Liberman apologizes for describing Netanyahu’s decision to meet with head of Arab Joint Party List as “autistic.”

Former FM Avigdor Liberman slams PM Netanyahu for scheduling talks with the head of the united Arab parties.

More Articles from Rafi Harkham
Untitled-1

Danny Goldstein, founder and chairman of ‘Calcala’ (‘Finance’): “We are focused on making Israel a better place to live and a better place to invest by merging the best of Israel and America – representing Israelis, but with an eye on the American perspective.”

Then-Bank of Israel Governor Stanley Fischer submits 2011 report to PM Binyamin Netanyahu

Prime Minister Benjamin Netanyahu: “The Israeli economy grew more than most Western economies, almost 2.5 times the OECD average…In contrast to the collapsing economies around us, Israel’s credit rating was upgraded last year.”

Deputy FM Danny Ayalon said Israel would not be cooperating with the Council in the wake of its passage of a resolution ordering a ‘fact-finding mission’ into Israel’s conduct in Judea and Samaria: “We have no reason to continue cooperating with a hypocritical organization which specializes in double-speak and has a mission to smear us.”

Since Kadima’s fracturing is inevitable, the leadership primary becomes significance in that it will determine which leader will secure the votes of those Kadima MKs whose allegiance is to the party, and not its leader.

PM Netanyahu: “Israel will do everything to help” find the killer, who had “strong murderous anti-Semitic motive”; UN Human Rights Council “should be ashamed” to host a Hamas official on the day of a terrorist attack.

Dalia Itzik, Kadima’s Knesset Faction Chairwoman and the last faction member yet to announce who she will support in the upcoming primary between Livni and Shaul Mofaz, has been linked to discussions with Mofaz’s campaign over the weekend.

Noted Israeli author and Israel Prize Laureate A.B. Yehoshua said that living outside Israel “is a very deep failure of the Jewish people,” and lamented that immigration numbers from the United States are “minimal” and “embarrassing.” He was equally acerbic regarding the large Israeli ex-patriot community.

The resolution read, “Egypt after the revolution will never be a friend of the Zionist entity, the number one enemy of Egypt and the Arab nation.” It also supported Palestinian resistance “in all its kinds and forms.”

Printed from: http://www.jewishpress.com/news/israel/bank-of-israel-2011-report-economy-grew-by-4-7-dealt-successfully-with-significant-difficulties/2012/03/28/

Scan this QR code to visit this page online: