The budget deficit for the 12 months through June 2013 was NIS 38.2 billion, 4% of GDP, down from 4.2% in the 12 months through May and 4.5% in the 12 months through April. The budget deficit totaled NIS 3.7 billion in June, and NIS 10.3 billion in the first half of 2013, down from NIS 11.1 billion in the first half of 2012, the Ministry of Finance announced today.
Expenditures, excluding payments on the principal, totaled NIS 24.5 billion in June, including NIS 21.7 billion in spending by ministries and NIS 2.8 billion in interest payments. Spending by ministries was higher in June than in preceding months because of the payment of the annual health payment to government employees.
Spending by ministries totaled NIS 112.3 billion in the first half, up 4.3% over the corresponding half of last year.
Tax revenues rose to NIS 19.4 billion in June from NIS 16.4 billion in June 2012, and rose to NIS 116.9 billion in the first half from NIS 109.4 billion in the corresponding half.
Capital market taxes totaled NIS 473 million in June, 150% more than in the corresponding month, and land taxes rose 32% to NIS 673 million.
Published by Globes [online], Israel business news - www.globes-online.com - on July 7, 2013
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