The annual mission of the International Monetary Fund (IMF) headed by Mr. Kotaro Ishi submitted a preliminary report to the Minister of Finance and the Governor of the Bank of Israel after completing the mission’s meetings in the country. The IMF is expected to publish the final report on the israeli economy later. The Ministry of Finance and the Bank of Israel thank the IMF mission and appreciate their diligent work. The mission was impressed by the resilience of the Israeli economy, as reflected in the recovery of economic activity following the ceasefire agreement. The mission also noted in the preliminary report the effects of the war, which, according to them, add to existing structural challenges in the Israeli economy, such as low labor force participation among certain populations. The report also includes recommendations for the future course of fiscal and monetary policy.
Minister of Finance Bezalel Smotrich:
“We thank the global IMF mission for the important and ongoing dialogue between us and for their diligent work. The Fund’s forecasts and the announcement published today reflect the strength of the economy and the fruits of the responsible fiscal and economic policy we have led in the last three years. As reflected in the state budget currently being discussed in the Knesset, we will continue to act with fiscal responsibility, maintain stability, alongside promoting bold reforms that will encourage employment, growth, and competition.”
Governor of the Bank of Israel, Prof. Amir Yaron:
“I thank the global IMF mission for their thorough and professional work and for the joint and fruitful discourse with them. The report indicates the resilience and robustness the economy has demonstrated during the last two challenging years, since the war broke out after october 7th. We will study the final report in depth when it is published, with all its important recommendations.”
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