Israel Deficit: NIS 14.9 Billion Compared to 1.9 Last September
The Finance Ministry released information about the current budget, the deficit, and the expenses of the current government during the COVID-19 pandemic on Monday.
The deficit for September was NIS 14.9 billion; in September 2019 it was NIS 1.9 billion.
The state reports a loss of income from collected taxes and an increase in its spending. Hence the rapid growth of the deficit which is 9.1% of the GDP (NIS 123.5 b.) when calculated based on the previous 12 months.
The state spent NIS 336.1 b. from the beginning of 2020, of which NIS 42.9 b. (12.8%) was spent by various ministries to deal with COVID-19. Only 74% of the state’s authorized COVID-19 total sum of NIS 57.9 b. was spent.
While civic ministries and offices reported a 21.6% increase in spending, Israeli security-related expenses decreased by 0.5%.
Israel is making less money from taxes – minus 9.9% compared to 2019 – and reported an income of NIS 230 b. since the beginning of 2020. (JPost / VFI News)
“God, we ask that you bless Israel—that you would help them recover quickly from this terrible pandemic.”