Israel's assets total NIS 474 billion, its liabilities total NIS 1.9 trillion.
Israel's assets total NIS 474 billion, its liabilities total NIS 1.9 trillion, and its deficit is NIS 1.4 trillion, according to the national accounts that Accountant General Michal Abadi-Boiangiu presented to the Knesset Finance Committee today.
Abadi-Boiangiu said, "Israel lives with a permanent overdraft. Its liabilities exceed its assets by NIS 1.4 trillion, and the direction this will take is unknowable at this time." She added, "As countries' economic crises worsen, the role of the financial report will increase, because a country can simultaneously have a deficit and be in an economic crisis, but still have substantial assets."
The national accounts values state land at NIS 304 billion, and estimates government revenues from the Tamar, Yam Tethys, and Noa natural gas discoveries at NIS 140 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on June 19, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012