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Quarterly Review Presented by the Minister of Finance for the Finance Committee Macro-Economic Review

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Title: Quarterly Review Presented by the Minister of Finance for the Finance Committee Macro-Economic Review


1
Quarterly Review Presented by the Minister of
Finance for the Finance CommitteeMacro-Economic
Review
  • Ministry of Finance
  • May 2012

2
Y2011 - Summary
Growth 4.8
Unemployment 7.0 / 5.6
Income from taxes (NIS Billion) 211.3
Deficit (percentage of product) 3.3
Debt (percentage of product) 74.2
Recently The Central Bureau of Statistics
changed the method of surveying human resources -
as a result the unemployment rates slightly
increased.
3
Growth Trends in Unemployment for Israel and
Worldwide (Percentage)2008-2012
2012 Based on the latest published data
4
The Labor Market Q1 2012
February 2012 March 2012
Unemployment rate 6.5 6.9
Participation rate 62.2 63.0
Number of employed (in thousands) 3,276 3,312
Calculated rate of unemployment 6.5 5.6
Number of available positions (in thousands) 57.4 68.8
Rate of unemployment assuming the participation
rate is 62.2
5
Forecast for 2012
Growth 3.2
Income from taxes (NIS Billion) 221
Deficit (Percentage of product) 3.4
Debt (Percentage of product) 73.8
6
Forecast of the International Monetary Fund Rate
of Product Growth
2012 2013
Global Economy 3.5 (0.2) 4.1 (0.1)
The Unites States 2.1 (0.3) 2.4 (0.2)
The EUR Block 0.3- (0.2) 0.9 (0.1)
In parenthesis the change in the Funds
forecast in percentage points compared to January
2012
7
The SP RatingIsrael and Western Europe
2011-2012
Country Present Rating Change in the Rating
Austria AA
Italy BBB
Ireland BBB X4
Belgium AA
United Kingdom AAA
Germany AAA
The Netherlands AAA
Greece CC X12
Israel A
Spain BBB X5
Portugal BB X5
France AA
Sweden AAA
Arrows represent improvement or decline in rating
8
Increase in Investments 2008 - 2011
Investments increased by 33 during the years
2010-2011
9
The Growth Rate for 2011 Main Sectors
10
Growth International Comparison2011
11
The Price Index 2011-2012January 2011100
Consumer Price Index
102.4
Cost of food After deducting seasonality 100.8
12
The Tax Burden on Fuel, European Countries and
Israel, May 2012
The tax burden in European countries as of April
2012. Source The European Commission
processed by the Economics Research Department
13
Main Reasons for the Crisis in the Energy Market
Implication An increase of NIS 15 billion in the
cost of electricity production
14
The Main Measures for Coping with the Crisis in
the Energy Market
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