The government deficit totaled NIS 4.6 billion in October 2013, the Ministry of Finance reported today. The deficit narrowed to NIS 18.6 billion in January-October from NIS 23.3 billion in the corresponding period of 2012.
The narrowing of the deficit continued in October, falling to NIS 34.4 billion for the preceding 12 months, or 3.3% of GDP.
Government spending, excluding payments on the principle, totaled NIS 25.7 billion in October, of which NIS 20.2 billion was spent by ministries and NIS 5.5 billion on interest payments (and repayment of the fund to the National Insurance Institute). Spending by ministries totaled NIS 198.5 billion in January-October, 5.5% more than in the corresponding period, less than the 8.8% increase in spending in the 2013 budget, compared with the budget performance in 2012. Spending by civilian ministries rose by 6.7%, and spending by the Ministry of Defense rose by 2.1%.
Tax revenues rose to NIS 17.6 billion in October from NIS 17.5 billion in October 2012. Tax revenues rose to NIS 198 billion in January-October from NIS 182.6 billion in the corresponding period.
Published by Globes [online], Israel business news - www.globes-online.com - on November 10, 2013
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