IMF: Israel sees 4.7% GDP growth in 2001, faces povertyApril 3, 2012 - 16:16 AMT PanARMENIAN.Net - The International Monetary Fund said that Israel's economy grew by 4.7 percent in 2011, more than double the average for members of the OECD group of developed countries, AFP reported. But in its latest report on the Israeli economy, the IMF also said the Jewish state had one of the highest levels of poverty among the 35 members of the Organisation for Economic Cooperation and Development, largely due to high unemployment among Arab-Israelis and ultra-Orthodox Haredi Jews. "Directors emphasised macro-social concerns, notably that labour participation among the Arab-Israeli and Haredi populations is low, with adverse effects on growth prospects, poverty reduction, and fiscal sustainability," it said. "They welcomed recent reforms to address these concerns, while emphasising that more is needed," it added. Last week the Israeli cabinet approved a slew of measures aimed at lowering housing prices, as part of an economic reform package following last year's wave of social protest against the cost of living. The government will also raise the limit on rental assistance it provides to people eligible for public housing, and double the property tax on apartments that are uninhabited, a move expected to free another 15,000 apartments per year in demand areas. The moves spring from recommendations by a government-appointed committee commissioned after Israelis took to the streets in record-breaking numbers last summer. IMF report saw 2012 growth for Israel falling to 2.8 percent, in line with the OECD's average forecast for its members. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia Security Council chief traveling to Qatar Secretary of the Security Council of Armenia Armen Grigoryan will travel on a working visit to Qatar. Pillars installed in Armenian border village of Kirants In the Armenian village of Kirants, three border markers have been installed, and border guards stand next to them. Armenian Foreign Minister regrets “tragic loss” of Iranian counterpart The Armenian Foreign Ministry has expressed shock over the death of the Iranian President and the Minister of Foreign Affairs. Armenian PM sends condolences to Iran Prime Minister Nikol Pashinyan sent a message of condolence to the Supreme Leader Seyyed Ali Khamenei. |