The cumulative deficit for the twelve months to the end of June was NIS 144 billion, or 10.1% of GDP. Israel’s cumulative deficit for the 12 months to the end of June was NIS 144 billion, or 10.1% of GDP, down from NIS 160.3 billion, or 11.7% of GDP at the end of 2020, according to the Finance Ministry’s public account report. At the end of May the fiscal deficit was 10.5% of GDP. The deficit reduction can largely be attributed to the rise in government revenue of NIS 181.9 billion in the first six months of 2021, up 22% from NIS 148.1 billion in the corresponding period of 2020. Revenue from direct taxes rose 25% during this period and rose Revenue from indirect taxes 20%, revenue from fees up 1% Published by Globes, Israel business news – en.globes.co.il – July 8, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021 Avigdor Liberman Photo: Lior Mizrachi
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