The Israeli economy has weathered the COVID-19 crisis exceptionally well, but risks are high. With substantial fiscal and monetary support, real GDP growth reached 8.1 percent in 2021, driven by consumption and high-tech exports. The rapid vaccination campaign boosted confidence. The outlook is...

Hong Kong SAR's economy is recovering strongly as ample policy space has allowed the enaction of swift and bold policy responses to address the unprecedented crisis emanating from multiple shocks, including notably the pandemic. But the recovery remains uneven, with private consumption lagging,...

New Zealand's sound management of the COVID-19 crisis has been effective in bringing infection rates quickly under control. Decisive fiscal and monetary policy responses have been instrumental in cushioning the economic impact. Although economic activity was hit hard initially, it has recovered...

The COVID-19 pandemic has interrupted Cyprus's strong economic growth over the past few years. High dependence on service sectors and strict containment measures led real output to contract by 5.1 percent (yoy) during 2020. Growth is projected to recover to 3 percent in 2021 as the vaccine...

This technical note examines housing prices and financial stability in France. The note highlights that sharply rising housing prices have caused concerns about mortgage credit risk and the stability of the financial system, particularly if the macroeconomic environment were to deteriorate...

This Technical Assistance (TA) report on Georgia is on Residential Property Price Indices (RPPI) Mission. The contents of this report constitute technical advice provided by the IMF staff to the authorities of Georgia in response to their request for TA. The Second Phase of the G-20 Data Gaps...