The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
Israel was mildly affected by the global recession: following a slowdown in 2009, output is projected to grow by some 4 percent in 2010, led by consumption and exports. Robust fundamentals-including sustained pre-crisis fiscal consolidation-and a swift monetary and fiscal policy response to the external downturn allowed Israel to pass through the global recession relatively unscathed. The resilience of the economy has been strengthened by the adoption of new fiscal rules capping spending and deficits.