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September 24, 2016 / 21 Elul, 5776
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Is Obama Listening? Israel’s Debt Shrinks by 30 Percent

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The Israeli government’s deficit shrank by 30 percent, from $5.7 billion in the first nine months of 2013  to only $4 billion in the same period this year, Globes reported on Monday.

September’s deficit was only $250 million.

The deficit for the past 12 months represents 3.2 percent of the Gross Domestic Product (GDP), slightly more than the desired ceiling of 3 percent. The continuing decline in the government deficit will probably bring down number to below 3 percent by the end of the year.

Tax revenues grow by nearly 10 percent in the nine-month period, not including  September payments that were not recorded until October because of the recent  holidays.

Spending grew by 5.1 percent but less than the budgeted 8.8 percent  increase.

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