A framework for carrying out the accession process (known as the “roadmap”) was set by the OECD Council (December) and the authorities are now engaging with the OECD’s various bodies in order to complete the accession process promptly.
According to early estimates, in 2007, the private consumption and investment rose by 7.2 percent and 13.4 percent, respectively.
In addition, the budget envisages one off spending to allow an increase in defense-related spending following the conflict in the north and to finance the remainder of the disengagement costs. This implies an additional spending growth of 1.5 percent.
Excluding April and May when inflation expectations slightly declined below 1 percent.
The interest rate path and the associated uncertainties are described in a fan chart.
The NII 2007 poverty report, which reviews the scale of poverty in 2006, shows that the population below the poverty line moderately declined by 0.6 to 20 percent (after welfare payments and taxes).
It should be noted that the poverty measure in Israel is of relative poverty: a person is defined as being poor if his or her income is below half the median income. It is thus more a measure of income gaps than of absolute poverty.
The two targets are gradually increasing the participation rate for ages 25-64 by 2.6 percent to the OECD average (71.7 percent) and increasing the income of the lowest socio-economical quintile by 10 percent higher than the growth of GDP per capita until 2010.