The budget deficit for the 12 months through January was 3% of GDP.
The government had a NIS 4.4 billion surplus in January 2014, the Ministry of Finance announced today. Surpluses are characteristic of January, due to low seasonal expenditures by ministries, but higher than expected tax revenues also contributed.
The budget deficit for the 12 months through January was NIS 31.3 billion, or 3% of GDP.
Tax revenues totaled a record NIS 24.8 billion in January, up 16% in nominal terms over the corresponding month in 2013. Expenditures totaled NIS 21 billion, including NIS 16.1 billion by ministries and NIS 4.9 billion in interest payments. Spending by ministries rose by 5.5% over January 2013; spending by civilian ministries was up 2.1% and defense spending rose 15.9%.
Published by Globes [online], Israel business news - www.globes-online.com - on February 6, 2014
© Copyright of Globes Publisher Itonut (1983) Ltd. 2014