Ministry of Finance Budget Department head Shaul Meridor said that the deficit for 2019 will be 3.6% of GDP as forecast by the government at the beginning of the year.
Israel's budget deficit remains unchanged at 3.8% of GDP over the past 12 months, the Ministry of Finance announced this evening. The data show that the Ministry of Finance has succeeded in halting the rise in expenditure by government ministries, due to the transition government, which is not allowed to raise budgets. On the other hand, there has been a continued weakness in government revenues, which did not rise in August compared with August 2018. The flat state of revenues comes after a consistent 5% annual rise in state income in recent years.
The deficit over the past 12 months is NIS 28.7 billion compared with NIS 15.4 billion over the previous 12 months.
Ministry of Finance Budget Department head Shaul Meridor said that the deficit for 2019 will be 3.6% as forecast by the government at the beginning of the year.
Published by Globes, Israel business news - en.globes.co.il - on September 3, 2019
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