Budget deficit narrows sharply after Jan surplus

Funds picture: thinkstock

Unexpectedly high government revenues and restricted expenditure due to Israel's temporary budget contributed to the surplus.

Israel's budget deficit over the past 12 months has fallen steeply from 3.8% at the end of December 2019 to 3.2% at the end of January 2020, the Ministry of Finance has reported. The sharp decline was due to a budget surplus of NIS 5.9 billion in January 2020, which has been attributed to a temporary budget due to the transition government, which restricts a rise in the budget over January 2019, and government revenues during the month.

In January, government expenditure totaled NIS 27.7 billion, while government revenues of NIS 33.6 billion were higher than expected.

Published by Globes, Israel business news - en.globes.co.il - on February 5, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Funds picture: thinkstock
Funds picture: thinkstock
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