No big surprises so far, but worth noting a few issues:
- The Israel economy is performing rather strongly with growth of 3.5% expected this year. Without the discovery of large gas reserves, the economy would have grown by 2.5%.
- Concern over rising house prices in Israel which, according to the IMF, is driven by constraints in supply rather than a bubble (i.e. not enough houses being built);
- The government has been able to cut spending even faster than its own target;
- Finally, the summary highlights the importance of "addressing low labor participation rates of Haredi and Israeli Arab communities". The full report will hopefully provide some further details;