ECONOMIC OUTLOOK
September, 2003

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A. Economic Developments and Macro-Economic Forecasts
1. Economic Developments in the First Half of 2003
2. Macro-Economic Forecasts for the Years 2003-2004
3. Medium-Term Forecast (2005-2010)
Tables - Macroeconomic Projections
   
  B. Principles of the Economic Policy in the 2004 Budget
1. Fiscal Policy for 2004 and Thereafter
2. Reforms, Structural Changes and Additional Steps
for Encouraging Growth and Strengthening
Weaker Populations
   
  C. Monetary Policy and Its Impact on GDP Growth
   
  D. The Effects of Fiscal Policy on the Growth Rate
  1. General Remarks
  2. The Effects of Taxation
  3. The Effects of Government Expenditure
  4. Effects of Government Expenditure and Tax Burden on Growth -
Empirical Findings
  5. Conclusions
  Bibliography

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18.09.2003 :ךיראתב הנורחאל ונכדוע םיפדה