Smotrich calls on the Prime Minister to announce that unilateral measures will lead to the cancellation of the Oslo Accords and the dissolution of the PA/Knesset Channel
The Ministry of Finance updates that the monthly deficit was about 13.4 billion and stands at a level of 5.6% of the GDP in the last 12 months - an increase of 0.8% compared to the January data.
The month of February last year ended with a surplus of about NIS 2.8 billion.
According to the ministry's data, government spending since the beginning of the year has increased by 43.6% compared to the beginning of last year: approximately NIS 90.5 billion, compared to approximately NIS 63.0 billion in 2023.
"The trend of the increase in the deficit is expected to continue in the coming months and to decrease towards the last quarter of the year, due to a change in the distribution of expenses and income arising from the 'Iron Swords' war", they estimated in the report.
Crash scene in Netivot.
The growing trend in the deficit is expected to continue in the coming months/Avi Rokah
The Treasury explained that "at uniform tax rates, the state's tax revenues in February 2024, in real terms, decreased by 1% compared to February 2023. Collection from direct taxes decreased by 6% compared to last year, collection from indirect taxes increased by approximately 7% and collection from fees increased by -11%. The main decrease in direct tax revenues was due to the decrease in real estate tax revenues and the sharp increase in tax refunds. The increase in indirect tax revenues was largely due to a decrease in VAT refunds."
In their analysis, they highlight several key points: the reduction of the purchase tax benefit on electric and plug-in vehicles - No, the provision for compensation fund was renewed at the rate of 25% of purchase tax. According to the planned legislation, the rate of provision should increase to 80% of the collection of purchase tax, while in 2023 no provision was made for the fund.
More on the same topic:
deficit
product
War of Iron Swords
Gaza war