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.

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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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3 COMMENTS

  1. The first paragraph makes no sense. It should have stated last year as 2012. Here’s how the Globes article started:
    “The government deficit shrank to NIS 14.1 billion in January-September
    2013 from NIS 20.2 billion in the corresponding period of 2012, after
    the deficit in September totaled just NIS 900 million. The deficit in
    the 12 months through September shrank to NIS 32.9 billion – 3.2% of
    GDP, based on the Central Bureau of Statistics’ new GDP methodology, and
    3.4% of GDP in the budget plan. The 12-month deficit has been shrinking
    steadily since March.”

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