Israel's fiscal deficit narrows to 7.4%

Avigdor Liberman Photo: Eyal Izhar

The cumulative fiscal deficit in Israel for the twelve months to the end of September 2021 narrowed to 7.4% of GDP, or NIS 116.9 billion, down from 8% at the end of August.

The cumulative fiscal deficit in Israel for the twelve months to the end of September 2021 narrowed to 7.4% of GDP, down from 8% at the end of August, and 9.2% at the end of July, the Ministry of Finance Accountant General reports. As the Covid crisis recedes, the fiscal deficit has been consistently narrowing all year to 10.1% at the end of June, from 10.5% at the end of May and 11.7% of GDP at the end of 2020.

Due to the few working days in September because of the holidays, an estimated NIS 8.2 billion in taxes was deferred until October. If not for this there would have been a budget surplus of NIS 2.2 billion in September and the budget deficit over the past 12 months would have narrowed to 6.85% of GDP.

Government revenues since the start of 2021 amount to NIS 295 billion, up 26.1% from the corresponding period of 2020 and an estimated 29.7% but for the deferment of taxes.

Published by Globes, Israel business news - en.globes.co.il - on October 11, 2021

Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Avigdor Liberman Photo: Eyal Izhar
Avigdor Liberman Photo: Eyal Izhar
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