Israel's fiscal deficit has narrowed for the first time since the start of the war. The deficit for the twelve months to the end of October this year was 7.9% of GDP, or NIS 154 billion, Ministry of Finance accountant general Yali Rothenberg reported today. In the 12 months to the end of September the fiscal deficit stood at 8.5% of GDP, or NIS 165.8 billion. The fall in the fiscal deficit follows 18 consecutive months of rises. RELATED ARTICLES Israel's forex reserves fell sharply in October State Comptroller: Tax Authority missed NIS 3b from crypto Goldman Sachs sees shekel at 3.6/$ in a year's time The Ministry of Finance has always estimated that the deficit would peak in September, and would then decline somewhat. This is because the spike in government spending in October last year when the war broke out has dropped out of the twelve-month figures. Minister of Finance Bezalel Smotrich estimates that his ministry would succeed in bringing the deficit within the 6.6% GDP target by the end of 2024. However, the Bank of Israel research department forecasts a 7.2% fiscal deficit at the end of 2024. Published by Globes, Israel business news - en.globes.co.il - on November 11, 2024. © Copyright of Globes Publisher Itonut (1983) Ltd., 2024.
