Israel’s Annual Budget Deficit Hits Record $52.2bn

Israel’s annual budget deficit hits record $52.2bn

Tel Aviv, March 8 : Israel’s annual budget deficit reached a record of 173.9 billion new shekels ($52 billion), according to a report issued by the Ministry of Finance.

 Israel’s Annual Budget Deficit Hits Record $52.2bn-TeluguStop.com

The deficit figure, between March 2020 and February 2021, accounts for 12.4 per cent of Israel’s GDP, much higher than the government’s target of 3 per cent, Xinhua news agency quoted the report issued on Sunday as saying.

For the first two months of 2021, the Israeli budget deficit reached 11 billion shekels, compared with a surplus of 2.9 billion shekels in the same months last year.

In February alone, the deficit amounted to 10.9 billion shekels, compared with 3.3 billion shekels a year ago.

Since the beginning of 2021, the government revenues hit 62.4 billion shekels, up by 6.2 per cent year on year, while the expenditures totalled 73.4 billion shekels, a sharp an increase of 30.7 per cent

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