Israel’s fiscal deficit rose again for the 17th consecutive month, after reaching zero in March 2023. The deficit in the 12 months to the end of August this year amounted to 8.3% of GDP, or NIS 161 billion, Finance Ministry Accountant General Yali Rotenberg reported today.
The figure at the end of July stood at 8.1% of GDP, or NIS 155 billion. As such, the deficit continues to fall short of the 6.6% target set by the government in the revised 2024 budget approved last March.
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The Finance Ministry estimates that the deficit will rise through the end of this month, then fall somewhat. That’s because the increase in government spending in October of last year, when the war broke out, will be out of the 12-month figures. Finance Minister Bezalel Smotrich estimated last week that his ministry will succeed in reducing the deficit to 6.6% of GDP by the end of 2024.
This article was published in Globes, Israeli Business News – en.globes.co.il – on September 9, 2024.
© Copyright Globes Publisher Itonut (1983) Ltd., 2024.
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