The year 2022 ended with a significant budget surplus of approximately NIS 9.8 billion, which is approximately 0.6% of GDP.
For the first time since 1987, an annual budget surplus was recorded.
This was announced today by the Ministry of Finance.
The reason for the extraordinary budget surplus lies mainly in a significant increase in the state's revenues, which is added to the extraordinary increase in 2021, following an impressive recovery of the economy emerging from the crisis.
State revenues in 2022 amounted to approximately 468.5 billion shekels compared to approximately 412.5 billion in 2021 - a growth rate of 13.6%.
The Treasury explains that most of the increase in the state's revenues is mainly due to direct taxes.
The Ministry of Finance explains that most of the increase in the state's income comes mainly from direct taxes, Ministry of Finance building, photo: Dodi Vaaknin
At the same time, the government's expenses amounted to approximately 458.8 billion shekels, compared to approximately 481.6 billion in 2021, a decrease of approximately 4.8% as a result of the sharp decrease in the expenses of the economic plan to deal with the corona crisis.
Meanwhile, the deficit in December amounted to approximately NIS 18.7 billion, compared to the deficit of NIS 21.5 billion in the corresponding period last year.
Due to the relatively high deficit in December, the accumulated surplus since the beginning of the year, which until about a month ago stood at about NIS 29 billion, reached a peak of about NIS 34 billion during the year.
We will also note that the law does not allow the Ministry of Finance to use the budget surplus without a budget transfer, and the budget surplus is used to close the state's debt.
"We have bequeathed to the current government a very strong economy", former Prime Minister Naftali Bennett, photo: Yoav Dudkevich
Former Prime Minister Naftali Bennett, who does not often comment on the storms of the past few days, said: "A tremendous achievement of the government that I had the privilege of chairing - instead of increasing the overdraft of all of us, the national debt, we reduced it dramatically, and thus bequeathed to the current government a very strong economy. The meaning: More money for education, health, infrastructure and security."
Gilat Bennett, the wife of the former prime minister, wrote on her Facebook page today: "There is a commonality between a murder at a crossing and school violence. And the commonality is the former opposition leadership, the current government."
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