JERUSALEM, Dec 11 (NNN-MA’AN) – The Israeli government’s 12-month budget deficit, sharply rose to 62.3 billion shekels (about 16.8 billion U.S. dollars), or 3.4 percent of its GDP, the regime’s Finance Ministry said yesterday.
The deficit figure, for the period between Dec, 2022, and Nov, 2023, is 31.99 percent higher than the deficit reported a month ago, which referred to the Nov, 2022-Oct, 2023, period.
For a year-over-year comparison, the Israeli budget registered a surplus of 7.5 billion shekels between Dec, 2021 and Nov, 2022.
The ministry noted, the deficit surge was due to an abnormal increase in expenditures, alongside a decrease in state revenues, both caused by the ongoing conflict between Israel and Hamas.
The regime expenditures in Nov, increased by 29.56 percent year-on-year, reaching 46.9 billion shekels, while revenues totaled 30.3 billion shekels, a decrease of 12.93 percent compared to the same period last year.
The decrease in revenue was due to a decline in consumption and real estate transactions, after the conflict, along with postponements and reductions in tax payments, to help businesses and individuals during the conflict.– NNN-MA’AN
