Market

The P & S 500 index continued its upward trend in the previous half. The nominal and real yield curves showed increases.

Situation

In medium and long terms, similar to the situation in the world. This is consistent with the stability shown by inflation expectations for terms

The spread

Medium and long-term ones. The spreads between corporate bonds and similar government bonds remained stable in the past half-year.

Domestic

The cumulative domestic deficit (excluding net credit granted) totaled NIS 7.20 billion in July-December.

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NEW CONCEPTS

While in the corresponding period last year it amounted to NIS 8.18 billion (at constant prices), and the annual deficit was 1.2% (9.2%) and similar to the deficit in 2015. The deviation from the original budget forecast reflects high revenues. More than taxes and surpluses in the activities of the National Insurance Institute – since the total expenditure is similar to the original budget.

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NEW IDEAS

In 2016, less legislative changes and timing differences in respect of motor vehicle imports, the share rose by 5.5% relative to the corresponding figure last year, similar to the rate. The growth of nominal GDP. The share of public debt in GDP fell to 9.61%. In the forecast that the research division formulated at the end of December 2016 (before the CBS published the annual estimate).

PORTFOLIO

We estimated that the GDP in 2016 grew by 5.3% (compared with 8.2% in the previous forecast), and that in 2017 and 2018 it is expected to grow by 2.3%.

  • The European Commission has raised forecasts of growth in the euro area, to 2.3 percent for this year, and to 2 percent for the next year. On November 9, the European Commission said it expects a growth of 2.1 percent for 2018 and 1.9 percent......