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
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