34.6% 10.3% 1.1% 3.9%
1978 50.6% 2.0% 4.0% 3.4%
1979 78.3% 9.5% 3.5% 3.0%
1980 131.0% - 3.0% 2.5% 4.8%
1981 116.8% 10.4% 4.2% 5.1%
1982 131.5% - 0.5% 1.1% 5.0%
1983 190.7% 6.0% 2.8% 4.5%
1984 444.9% - 0.4% 2.3% 5.9%
[Source: Israel, Central Bureau of Statistics, 1990, pp. 323, 369)
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GNP growth steadily declined from 1971 through 1984, as inflation rose. Simultaneously, unemployment rose generally steadily, although moderately.
The hyperinflation of the early-1980s was accompanied by large deficits in the current account, with Israel importing more goods and services than it exported, and constant devaluations of the Israeli currency. Foreign capital inflows, especially from the United States allowed Isra
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