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Macro Review for the Knesset Finance Committee

Macro Review for the Knesset Finance Committee. Ministry of Finance January 2012. 2011 - Summary. Growth Forecast versus Actual Growth, 2008-2012. *Central Bureau of Statistics estimate. Global Unemployment Rates 2008-2011. Euro zone 2011 is based on the first 11 months of the year.

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Macro Review for the Knesset Finance Committee

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  1. Macro Review for the Knesset Finance Committee Ministry of Finance January 2012

  2. 2011 - Summary

  3. Growth Forecast versus Actual Growth, 2008-2012 *Central Bureau of Statistics estimate

  4. Global Unemployment Rates2008-2011 Euro zone 2011 is based on the first 11 months of the year. Israel 2011 is based on the first three quarters.

  5. Investments, 2008-2011 Between 2008-2011 investments rose 35% Based on the first three quarters of 2011.

  6. Gap between Actual Tax Collection and Budget Planning, 2011 Tax collection in 2011 totaled NIS 211.3 billion compared to a budget forecast of NIS 213.5 billion

  7. Deficit Ceiling versus Actual DeficitGDP Percentage Points

  8. Public DebtGDP Percentage Points * Preliminary estimates for 2011

  9. Share IndicesJanuary 2011=100 S&P 500 Tel Aviv 100 Euro Stoxx 50* * Index of top 50 shares

  10. S&P Credit RatingIsrael & Western Europe, 2010-2012 * An arrow indicates an increase or decrease of one notch in the credit rating

  11. Responsible Fiscal Policy Conformance to the expenditure framework according to the fiscal rule prescribed by law • Importance: • Economic certainty • Low financing costs (for the government and the business sector) • Fiscal flexibility in a crisis • Credibility of the fiscal policy

  12. Revised Forecast for 2012 *Assuming the euro zone does not disintegrate (withdrawal of one country or more)

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