1 / 12

Economic Review: Growth Forecast Impact & Fiscal Policy Compliance - Knesset Finance Committee 2011 Summary

Detailed summary of growth forecasts vs. actual growth, global unemployment rates, investments, tax collection gaps, deficit-GDP ratios, share indices, credit ratings, and fiscal policy adherence for the Knesset Finance Committee in January 2012. Insights on fiscal rule conformity, economic certainty, and revised 2012 forecasts are presented.

adeola
Download Presentation

Economic Review: Growth Forecast Impact & Fiscal Policy Compliance - Knesset Finance Committee 2011 Summary

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  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)

More Related