Sunday, December 8, 2013
OECD Lauds Israel’s Economic Growth
“Israel’s output growth remains relatively strong, unemployment is at historically low levels, its high-tech sector continues to attract international admiration, and new off-shore gas fields have come on stream,” the OECD said in the executive summary of its 2013 Israel Economic Survey.
The report projected that Israel’s economy would grow by 3.7 percent in 2013, compared to 3.9-percent growth in 2012. Growth projections for 2014 and 2015 were pegged at 3.4 percent and 3.5 percent, respectively. As a result, unemployment is expected to rise from its current historic low of 5.9 percent to a range of 6.6-6.9 percent. The OECD also praised the Israeli economy for being one of the most turmoil-resistant economies in the West, and for its high-tech industry.
Source: Algemeiner.com