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Lowest since 2008: The budget deficit has dropped to a level close to zero Israel today

2022-06-09T13:24:35.557Z


According to the definition of the Treasury, the reasons for the dramatic reduction of the deficit lie in "significant and continuous growth" • State revenues since the beginning of the year amounted to NIS 206 billion - an increase of more than 25% compared to the same period last year


The budget deficit in the state coffers in the last 12 months has dropped to a level close to zero - or more precisely - 0.04% of GDP, which is NIS 600 million.

This is the lowest rate since January 2008. The Ministry of Finance announced today (Thursday).

In May, a budget surplus of NIS 1.4 billion was measured, and the cumulative surplus since the beginning of the year reached NIS 33.3 billion, compared with a deficit of about NIS 35 billion in the corresponding period last year.

"Significant and continuous growth"

The reasons for the dramatic reduction of the deficit lie in a "significant and continuous increase", according to the definition of finance, in the state's tax revenues, along with a significant decrease in expenses resulting from a decrease in the volume of economic assistance program expenditures.

State revenues since the beginning of the year amounted to about NIS 206 billion - an increase of more than 25% compared to the same period last year.

Government expenditures since the beginning of the year amounted to about NIS 173 billion, compared with about 199 in the corresponding period last year - a decrease of about 13%.

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Source: israelhayom

All news articles on 2022-06-09

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