Israel’s fiscal deficit within the 12 months ending February 28, 2022 narrowed to 2.2% of GDP, or about NIS 35 billion, the Ministry of Finance stories.
Israel’s fiscal deficit within the 12 months ending February 28, 2022 narrowed to 2.2% of GDP, or about NIS 35 billion, the Ministry of Finance stories. The fiscal deficit has been persistently narrowing over the previous yr from 3.2% on the finish of January, 4.5% on the finish of 2021 and 11.7% on the finish of 2020, within the midst of the Covid pandemic. In February, the Ministry of Finance reported a uncommon budgetary surplus of NIS 4 billion.
The Ministry of Finance attributes the narrowing of the fiscal deficit, amongst different issues, to an distinctive rise in authorities revenues from taxes in February 2022 to NIS 34.8 billion. Authorities revenues from taxation within the first two months of the yr have been NIS 82.2 billion, 23.7% greater than the corresponding interval of 2021. One more reason for the smaller deficit was the continued decline in expenditure on financial help, as set by the earlier authorities, for these hit by the Covid disaster.
Israel’s fiscal deficit was 3.1% within the 12 months to the tip of February 2020, on the eve of the Covid disaster.
Printed by Globes, Israel enterprise information – en.globes.co.il – on March 8, 2022.
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Avigdor Liberman Photograph: Yossi Zamir
