New Country Reports research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 08/22/2013 -- Political risks remain elevated, with potential for an Israeli military attack on Iran on the rise in 2013 and risks of spill over from the crisis in Syria increasing, and investors' risk appetite may be tempered as a result.
We see the current account coming in deficit to the tune of 0.3% of GDP in 2013 and to return to positive territory at 0.9% of GDP in 2014, compared with a deficit of 0.8% of GDP in 2012. The current account's improvement mainly results from declining import growth.
Major Forecast Changes
We project real GDP growth in Israel to come in at 3.7% in 2013, up from our previous forecasts of 3.5%. Much of the will result from declining imports, while private consumption and fixed investment will grow slowly.
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Key Risks To Outlook
House prices in Israel have risen rapidly in recent years, raising concerns that a bubble has formed in the property market. However, an increase in supply, coupled with macroprudential measures on the part of the government designed to bring down prices, have seen the market cooling in the past few months. As a result, a sharp drop in prices is unlikely at this stage.
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