A 300% jump in the deficit and a 10% decrease in state tax revenues in the last 12 months • Direct government spending on the corona: more than NIS 51 billion
Ministry of Finance.
The deficit skyrocketed
Photography:
Oren Ben Hakon
The cumulative deficit has more than tripled in a year, according to data from the Ministry of Finance published yesterday.
According to the data, the cumulative deficit in the past year (November 2019 - October 2020) stands at 10.1%, which is NIS 122.7 billion - compared to a deficit of NIS 37.8 billion in the corresponding period last year.
"The corona crisis has a significant impact on both expenditure and revenue," the Treasury said, adding: "Balances for the coming months, in which the institution is expected to end with a cash deficit. As a derivative of these effects, the deficit for financing has increased."
Since January, total government spending in the past year has stood at NIS 381.1 billion - of which NIS 51.1 billion is on corona-related spending, which is more than 13%.
A 10% decrease in revenue
Since the beginning of the year, there has been a 17.3% increase in government spending compared to the corresponding period last year.
Excluding expenses for dealing with the corona, there was an increase of 1.5% compared to the performance in the corresponding period last year.
In the revenue segment, from January to October there was a nominal decrease of 10% compared to the corresponding period last year, and they amounted to about NIS 4.3 billion.
The total collection of taxes since the beginning of the year amounted to NIS 4.25 billion - a nominal decrease of 2.8% compared with the corresponding period last year.
