State revenues have fallen by almost 10% since the beginning of the year compared to last year • The deficit in September alone - NIS 14.9 billion • Expenditure by government ministries, excluding corona expenditures, increased by 0.9% in the first nine months of last year
The September budget deficit amounted to NIS 14.9 billion.
This is compared to September last year, when a budget deficit of NIS 1.9 billion was measured - 780% more.
In the first nine months of last year, the deficit amounted to NIS 13 billion - compared with a planned deficit of NIS 40 billion.
It was also the soft underbelly of the previous finance minister, who failed to meet the deficit target.
But now it is a rosy dream to return to this deficit environment.
Archive photo: GPO
Beginning in March, the effects of the corona crisis on the Israeli economy and budgetary activity began to manifest themselves.
The corona crisis has a significant impact on both expenditure and revenue, an effect of rising government spending and declining tax revenues, with the Social Security not depositing excess revenue over its operating expenses, to keep balances for the coming months in which the institution is expected to run a cash deficit.
The cumulative deficit in the first nine months of the year is NIS 102.4 billion, compared with a deficit of NIS 31.1 billion in the corresponding period last year.
In the last 12 months, the deficit stands at 9.1% of GDP, which is NIS 123.5 billion. The state raised NIS 23.9 billion from the domestic market in September, and half a billion shekels were raised abroad in September.
Government expenditures in September amounted to NIS 43.2 billion.
Of this, NIS 2.5 billion was paid as interest repayments, and repayment of principal and interest to the National Insurance Institute in the amount of NIS 3.2 billion.
The rest of the expenditure was expenditure by government ministries.
Since the beginning of the year, government expenditures have amounted to about NIS 300 billion - 42.9 billion of them for expenses intended to deal with the corona crisis.
Interest payments and repayment of principal and interest to the National Insurance Institute amounted to NIS 38.3 billion.
These are expenses that are 0.9% higher than the expenses of the corresponding period last year, if the expenses of the corona are neutralized.
State revenues in September amounted to NIS 28.3 billion, and in the first nine months of the year amounted to NIS 233.7 billion.
This is a nominal decrease of almost 10% compared to the same period last year.
Tax collection amounted to NIS 28 billion in September: direct taxes amounted to NIS 14.3 billion, indirect taxes to NIS 13.2 billion, and fees to NIS 0.4 billion.
Since the beginning of the year, state revenues have totaled NIS 230 billion - a decrease of 4% compared to the same period last year.