Israel's Deficit Shrinks to 7.9% of GDP Despite War Expenses, Still Above Annual Target

Israel’s deficit has narrowed to 7.9% of GDP from 8.5% in the previous month as of October 2024, according to a report released by the Finance Ministry.

Although the deficit was expected, given the Israel-Hamas war surpassing the one-year mark, the Finance Ministry stated that the main reason the year-end deficit is projected to exceed the budget target of 6.6% is due to uncertainty regarding U.S. aid.

Though the war has unexpected costs, the past year has allowed for some stability as time continues. When the war broke out in October 2023, the month ended with a deficit of approximately NIS 22.9 billion, whereas October 2024 ended with approximately NIS 11.2 billion.

So far, this year has seen a cumulative deficit of about NIS 104.1 billion, down significantly from 2023’s NIS 154.1 billion. (JPost/ VFI News)

“Therefore do not be anxious, saying, ‘What shall we eat?’ or ‘What shall we drink?’ or ‘What shall we wear?’ For the Gentiles seek after all these things, and your heavenly Father knows that you need them all. But seek first the Kingdom of God and His righteousness, and all these things will be added to you.” - Matthew 6:31-33

The suggestions, opinions, and scripture references made by VFI News writers and editors are based on the best information received.

Want to see more from VFI? Follow us on Facebook: https://www.facebook.com/visionforisrael and hit “like” if you like us!