Israel’s fiscal deficit widens to 12.1%


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Israel’s fiscal deficit increased to 166.4 billion shekels, over the 12 months to the end of January 2021, despite a rise in government revenues last month. Israel’s fiscal deficit widened to 12.1% of GDP, or 166.4 billion shekels, in the 12 months ending January 2021, up from 11.7% at the end of December, according to Finance Ministry reports. In January, the fiscal deficit reached 1 billion shekels, compared to a surplus of 5.9 billion shekels in January 2020, before the outbreak of the Covid-19 crisis. Government spending in January 2021 amounted to 34.6 billion shekels, an increase of 25.1% from January 2020. Without government aid to the economy during the crisis, spending fell by 0.8% from January 2020. Revenues were The government in January 2021, 34.5 billion shekels, an increase of 2.7% over January 2020. Revenue from direct taxes amounted to 19.6 billion shekels, an increase of 7.6% from January 2020, and revenues from indirect taxes reached 13.7 Billion shekels, down 3.6% from January 2020. – On February 7, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021 Yisrael Katz Photo; ASAP Creative Shutterstock


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