Israel's economy growth rate is estimated to reach 4.8 percent in 2011 compared to a previous forecast of 3.8 percent, the International Monetary Fund said. Israel's inflation is expected to rise 3.4 percent due to price hikes but is expected to drop to 1.6 percent next year, the IMF said in its September report. Prime Minister Binyamin Netanyahu welcomed the report's findings saying it proved the government has been successful in managing Israel's economy. The foreign minister said he hoped the Palestinians understood it was in their interest to postpone the statehood bid and focus on negotiations. Mahmoud Abbas fled immediately after his speech so we could not negotiate, Lieberman said. He accused the Palestinians of making up excuses not to negotiate all the time. Lieberman warned any one sided move would lead to an Israeli response, but did not elaborate.