Israel's fiscal deficit continues to decline

Israel's economy continues to recover and its fiscal deficit continues to decline. The cumulative deficit for the twelve months to the end of April was NIS 158.9 billion, or 11.2% of GDP. After swelling because of the coronavirus pandemic, the deficit began to decline in March, when the cumulative twelve-month deficit fell to 12.1% of GDP (NIS 169.4 billion) from 12.4% in the twelve months to the end of February.

In the period January-April 2021, the deficit was NIS 26.8 billion, which compares with NIS 28.2 billion in January-April 2020.

Total civilian spending in the January-April period was NIS 116.2 billion, 28.6% higher than in the corresponding period last year. Excluding spending on the economic aid plan, the rise was 4.2%. Defense spending totaled NIS 22.1 billion in January-April, 2.8% higher than in the corresponding period last year. . Excluding spending on the economic plan, the rise was 0.8%.

Published by Globes, Israel business news - en.globes.co.il - on May 9, 2021