Israel's Budget Deficit Widens to 3.3% of GDP
Translated & summarized from Calcalist by baba
Israel's cumulative budget deficit has grown to 3.3% of GDP, the Ministry of Finance reported. The monthly deficit in October was 18.3 billion shekels, up from 15.2 billion shekels last year. State revenues increased by 10% year-to-date, while expenditures rose by 4.2%.
The story in 5 lines · by baba
- Israel's 12-month budget deficit reached 3.3% of GDP, up from 3.2%.
- The October monthly deficit was approximately 18.3 billion shekels.
- October revenues were 46.2 billion shekels, a 10% year-to-date increase.
- Government expenditures in October were 64.5 billion shekels.
- Year-to-date spending increased by 4.2% compared to last year.
Israel's cumulative budget deficit over the past 12 months has increased to approximately 3.3% of the Gross Domestic Product (GDP), up from 3.2% in the previous month, according to data released by the Ministry of Finance. The monthly deficit for October alone reached about 18.3 billion shekels, a rise from the 15.2 billion shekels recorded in October of the previous year.
State revenues in October totaled approximately 46.2 billion shekels. For the year to date, revenues have reached about 503.3 billion shekels, marking a 10% increase compared to the same period last year. Government expenditures in October were around 64.5 billion shekels.
Cumulatively, government spending from the beginning of the year stands at approximately 551.1 billion shekels, an increase of about 4.2% compared to the corresponding period in the prior year, which saw expenditures of roughly 529.1 billion shekels.
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