web analytics
March 2, 2015 / 11 Adar , 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
Israeli Prime Minister Benjamin Netanyahu and many of the Bibicotters
Want to Tell the BibiCotters What You Think? Here’s How You Can.
Latest News Stories
Prime Minister Benjamin Netanyahu at the AIPAC Policy Conference, Washington DC, on March 2, 2015.

“Today, we are no longer silent; today, we have a voice. Tomorrow, as prime minister of the only Jewish state, I plan to use that voice.”

Prime Minister Netanyahu meets with US Senator Lindsey Graham in Jerusalem.

Former Consul Alon Pinkas charges Prime Minister Netanyahu is “injecting Israel into the American political arena – he loves doing that.”

Prime Minister Netanyahu writes the beginning of his speech he will deliver in Congress on Tuesday.

Former Israel Ambassador to the UN Dore Gold says PM Netanyahu’s speech to Congress “will have substance no one has heard before.”

Israeli Prime Minister Benjamin Netanyahu and many of the Bibicotters

Want to know who are the Bibicotters and how you can tell them what you think?

Prime Minister Binyamin Netanyahu told a packed room at AIPAC on Monday the US-Israel alliance is “sound.” But on Iran: “No one makes alliances with the weak,” he warned.

IDF soldiers, reservists and local security units participated in a massive training drill in the town of Efrat, Gush Etzion, reenacting an infiltration of terrorists into the settlement, on March 02, 2015. The IDF’s central command called a surprise training exercise in the West Bank to test reservists’ alertness and to prepare for the possibility […]

I’m not going to get into timetables. It will happen.

American like Netanyahu by a 2-1 margin, with Obama probably in the minority.

Girls, ages 10-13, from Efrat in Gush Etzion will square off against girls from the Galilee Arab village Sakhnin tonight in a playoff game that will determine which group will advance to the semi-finals in the girls’ league. “We are involved with soccer and not politics,” one of the Efrat girls said. “We really want […]

Jew Wars: Episode 7 – Revenge of the White House

The suspect denied he knew he was sending Hamas material that could be used to kill him and his neighbors.

The PA plans to destroy Israeli products found in Arab-owned stores, but the Arab population will probably just buy them from Rami Levy instead.

He told CNN ‘God gave the US military power” that should be used to stop genocide.

Israel’s Prime Minister Netanyahu arrived Sunday in Washington DC ahead of appearances at the AIPAC conference and before the US Congress, to discuss the Iran nuclear threat.

Israel’s military Central Command decides to spring a surprise 2-day “readiness” drill in Judea and Samaria.

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: