OECD Raises Israel Economic Growth Estimate

The Organization for Economic Cooperation and Development (OECD) raised its 2012 economic growth estimate for Israel to 3.2 percent, up from its November estimate of 2.9 percent.  The group reduced its estimate for 2013, down to 3.6 percent from 4.7 percent.  According to a report in Bloomberg business news, Israel’s economy expanded 4.7 percent in 2011.

The OECD recommended Israel not further lower its hefty gas tax, and should not cut personal income tax.