The International Monetary Fund (IMF) forecasts that Israel's GDP will contract by 5.9% in 2020, very slightly sharper than the average of 5.8% that it sees developed economies contracting this year. The latest forecast is an improvement on the IMF's forecast in June when it predicted thast Israel's GDP would shrink 6.3% in 2020, Trend reports with reference to Globes.
The IMF sees Israel's GDP growing by 4.9% in 2021, slightly below its forecast of 5% in June. The IMF sees Israel's GDP shrinking 7.7% in the fourth quarter of 2020 compared with the corresponding quarter of 2019.
The IMF sees the global economy shrinking by 4.4% in 2020, an improvement on its June forecast of 4.9%. The IMF sees the economy in the euro zone contracting by 8.3% in 2020 with the US economy contracting 4.3% this year.