Israel's fiscal deficit narrows as economy begins recovery

Yisrael Katz Photo; ASAP Creative Shutterstock

Israel's fiscal deficit fell to 12.1% of GDP for the 12 months to the end of March 2021, the Ministry of Finance reports.

There are distinct signs of economic recovery, as Israel's fiscal deficit narrowed for the first time in months to 12.1% of GDP for the 12 months to the end of March 2021, from 12.4% at the end of Februaqry, the Ministry of Finance reports. The fiscal deficit for the 12 months to the end of March 2021 was NIS 169.4 billion down from NIS 174 billion for the 12 months to the end of February 2021.

In March 2021 the fiscal deficit was NIS 11.4 billion, up from NIS 10.9 billion in February 2021 but down from NIS 15.9 billion in March 2020 when the Covid-19 pandemic first hit.

Government revenues in March 2021 totaled NIS 35.6 billion and totaled NIS 98 billion in the first three months of the year, 19.8% up from the corresponding period of 2020.

Since the start of the crisis the government has poured NIS 134.7 billion into the economy in aid, 67% of the allocated amount.

Published by Globes, Israel business news - en.globes.co.il - on April 12, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Yisrael Katz Photo; ASAP Creative Shutterstock
Yisrael Katz Photo; ASAP Creative Shutterstock
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