Technology Slice Blog

International Monetary Fund Warns Of Deficit - The International Monetary Fund on Monday called upon the Israel to reduce the fiscal deficit faster than planned and implement steps to cool the housing market. “Israel passed through the global recession swiftly – the fruit of decisive policies – and strengthened macrofinancial policy frameworks,” the IMF said in its preliminary report on Israel’s economy in 2010. “The challenge now is to sustain growth and low inflation while boosting medium-term prospects – in the context of continued global uncertainty, capital outflows from advanced countries, shekel appreciation and a housing market that is overheating.” On Monday, the members of the IMF mission, headed by Peter Doyle, submitted their report to Finance Minister Yuval Steinitz and Bank of Israel Governor Stanley Fischer. The IMF is expected to submit its full 2010 report on Israel’s economy in January. “The members of the mission are expert and experienced economists, and we d...