The deficit fell to 2.4% of GDP for the 12 months through May 2014.
The government posted a budget surplus of NIS 1.9 billion in May 2014, compared with a surplus of NIS 1 billion in May 2013, the Ministry of Finance reported today. There was a budget surplus of NIS 800 million in January-May, compared with a deficit of NIS 6.5 billion in the corresponding months of last year.
The deficit fell to 2.4% of GDP for the 12 months through May 2014, continuing the downward trend that began in January.
Government expenditures, excluding payments on the principal, totaled NIS 22.4 billion in May. Expenditures totaled NIS 95 billion in January-May, 4.6% more than in the corresponding months.
Tax revenues totaled NIS 22.5 billion in May. Tax revenues rose 11.6% to NIS 108.9 billion in January-May from NIS 97.6 billion in the corresponding months.
Published by Globes [online], Israel business news - www.globes-online.com - on June 11, 2014
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