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JERUSALEM, Nov. 5 (Xinhua) – Israel's deficit for the last 12 months stood at 3.6 percent of gross domestic product (GDP), highest since 2012, with the target for 2018 at only 2.9 percent, the state's Ministry of Finance published on Monday.
The gap between the deficit and the deficit is about 9 billion new shekels (2.44 billion US dollars). This is an even higher discussion than expected by the ministry, whose members are discussing the subject and expressed concern about the situation.
The ministry explained the high-speed deficit, which had last year's low of $ 4 billion in the property tax bill. .
In real figures, state earnings fell by 8 percent from October 2017, a 12-percent drop in indirect taxes and a 5-percent decrease in direct income.
The rate of growth was only 2 percent this year, compared with an average of 6 percent in recent years.
In September, the Ministry of Finance noted that one of the reasons for the high deficit was the postponement of the tax collection following the Jewish holidays, the deficit is still exceptional.
Israel's government spending also increased by 7.2 percent in 2018, compared with the same period last year.
The Ministry of Finance noted that the rate of increase is expected to moderate towards the end of 2018.
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