Israeli gov't deficit hits 6.83 bln USD in first 7 months

Source: Xinhua| 2019-08-07 01:21:04|Editor: Mu Xuequan
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JERUSALEM, Aug. 6 (Xinhua) -- 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 August 2018 to July 2019) was 3.8 percent of GDP, exceeding the forecast 3.6 percent.

The data also show that the 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 ones grew by 11.4 percent, while the defense 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.