JERUSALEM, Aug 7 (NNN-MA’AN) – Israeli government deficit, in the first seven months of 2019, more than doubled to 23.8 billion new shekels (6.83 billion U.S. dollars) year on year, said an official report released on Tuesday.
In the corresponding period in 2018, a deficit of about 11 billion new shekels was posted, said the report, by the Ministry of Finance.
The cumulative Israeli government deficit in the last 12 months (from Aug, 2018 to July, 2019) was 3.8 percent of GDP, exceeding the forecast 3.6 percent.
The data also show that, total government expenditure in the first seven months reached 227.1 billion new shekels, a jump of about 7.4 percent year on year.
In addition, expenditures of Israel’s civil ministries, such as health, education and welfare, grew by 11.4 percent, while the defence spending fell 1.3 percent.
Notably, tax revenues totalled 203.3 billion new shekels by early 2019, a nominal increase of only 1.5 percent, compared to the same period last year.– NNN-MA’AN
