Israel’s annual budget deficit declines to 48.8 bln USD

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JERUSALEM, May 9 (Xinhua) — Israel’s annual budget deficit dropped to 158.9 billion new shekels, or about 48.8 billion U.S. dollars, according to a report issued by the state’s Ministry of Finance on Sunday.

The annual deficit gradually rose from March 2020, reaching a peak of 173.9 billion new shekels in February 2021, and since then decreased to the current figure.

The annual budget deficit between May 2020 and April 2021 accounts for 11.2 percent of Israel’s gross domestic product (GDP), compared to 12.1 percent reported in March,but still much higher than the government’s target of 3 percent.

For the first four months of 2021, the Israeli budget deficit reached 26.8 billion shekels, compared with a deficit of 28.2 billion shekels in the same months last year.

In April alone, the deficit amounted to 3.5 billion shekels, compared with 14.9 billion shekels a year ago.

Since the beginning of 2021, the Israeli government revenues hit 132.7 billion shekels, up by 27.9 percent year on year, while the expenditures totaled 159.4 billion shekels, a sharp increase of 20.9 percent. Enditem

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