The deficit in the government's budget activity totaled NIS 4.9 billion in June, compared with a NIS 3.7 billion deficit in June 2013.The January-June 2014 deficit amounted to NIS 4 billion, compared with a NIS 10.2 billion deficit in the first half of 2013.
The cumulative deficit over the past 12 months (July2013-June 2014) rose to 2.5% of GDP, following a continuous drop to 2.4% of GDP in the cumulative budget from the beginning of the year until May.
Government spending (excluding repayments of principal) totaled NIS 24.7 billion in June (recreational pay for government employees is distributed in June of each year). Spending by government ministries totaled NIS 117.1 billion since the beginning of the year, a 3.9% rise, compared with the corresponding period in 2013.
Tax revenues totaled NIS 18.4 billion in June and NIS 127.3 billion in January-June, compared with NIS 117.0 billion in January-June 2013, an 8.8% nominal increase.
Tax receipts from the capital market amounted to NIS 369 million in June, down 23%, compared with June 2013. Land tax revenues totaled NIS 677 million, 0.2% less in real terms than in June 2013.
Published by Globes [online], Israel business news - www.globes-online.com - on July 8, 2014
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