Israel's fiscal deficit high but steady

Moshe Kahlon  photo: Alex Kolomoisky, Yediot Ahronot

The deficit for the twelve months to the end of May was 3.8% of GDP, way over budget but unchanged from the twelve months to April.

Israel's fiscal deficit for the twelve months to the end of May was 3.8% of GDP, unchanged from the figure to the end of April.

The accumulated deficit for the first five months of 2019 was NIS 15.1 billion, which compares with NIS 2.3 billion in the corresponding period of 2018.

Civilian government spending shot up 15.8% in the first five months of 2019, which compares with a target of 6% set in the state budget, while defense spending grew 2.9%, versus a budget target of 1.9%.

State tax revenues rose slightly, reaching NIS 135 billion in the first five months of 2019, some NIS 4 billion ahead of the figure for the corresponding period of 2018, and representing growth of 2% after adjustment for changes in tax rates..

Published by Globes, Israel business news - en.globes.co.il - on June 6, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

5 Comments
View comments in rows
Update by email about comments talkback
POST
Comments
Moshe Kahlon  photo: Alex Kolomoisky, Yediot Ahronot
Moshe Kahlon photo: Alex Kolomoisky, Yediot Ahronot
Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018