Olmert says Gaza pullout boosted economy

Monday, December 26, 2005 |    

Finance Minister Ehud Olmert said the relocation of settlers from Gaza was good for the economy. Israel's economy grew by 4.9 percent this year, while annual inflation totaled 2.7 percent, according to statistics released by the Treasury and presented to the government. “What we are witnessing is the disengagement's profound impact on the state of the economy, and this can be seen in the massive rise in the number of tourists, and in the performance of the Tel Aviv Stock Exchange from the second half of 2005,” Olmert said. The unemployment rate this year stood at 9 percent. However, the economy’s growth rate of is expected to drop to 3.9 percent in 2006, while unemployment will fall to 8.5 percent.

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