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The Jerusalem Post

Israel's fiscal deficit climbs again

 
New Israeli Shekel bills are seen in front of a downwards-trending graph (illustration) (photo credit: HADAR YOUAVIAN/FLASH90)
New Israeli Shekel bills are seen in front of a downwards-trending graph (illustration)
(photo credit: HADAR YOUAVIAN/FLASH90)

The figure for the end of July was 8.1% of GDP, or NIS 155 billion.

Israel's fiscal deficit has risen again for the 17th successive month, after reaching zero in March 2023.

The deficit in a twelve-month period ending in August of this year was 8.3% of GDP, or NIS 161 billion, Finance Ministry Accountant General Yali Rothenberg reported on Tuesday.

The figure for the end of July was 8.1% of GDP, or NIS 155 billion. The deficit thus continues to drift away from the target set by the government in the revised 2024 budget approved last March, of 6.6%.

The Finance Ministry's estimates 

The Finance Ministry estimates that the deficit will climb until the end of this month and will then decline somewhat.

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 FINANCE MINISTER Bezalel Smotrich speaks at a news conference at the Finance Ministry in Jerusalem, last week. (credit: Chaim Goldberg/Flash90)
FINANCE MINISTER Bezalel Smotrich speaks at a news conference at the Finance Ministry in Jerusalem, last week. (credit: Chaim Goldberg/Flash90)

This is because the spike in government spending in October last year when the war broke out will drop out of the twelve-month figures. Finance  Minister Bezalel Smotrich estimated last week that his ministry would succeed in bringing the deficit within the 6.6% of GDP target by the end of 2024.

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