Home Business Israel’s fiscal balance for twelve months amounted to NIS 9.8 billion

Israel’s fiscal balance for twelve months amounted to NIS 9.8 billion


According to the estimate published today by the chief accountant of the Ministry of Finance, government revenues for January-August 2022 amounted to NIS 315.7 billion, which is 19.1% more than for the corresponding period of 2021. Government spending at the same time fell by 9.1% because of the suspension of aid during the Covid-19 pandemic. Excluding Covid-19 relief, government spending rose 3.8% in January-August 2022 compared to January-August 2021. In 2021, there was a significant transfer to old pension funds, and excluding this, total government spending rose by 5.5% between the two periods.

Israel’s budget surplus was NIS 9.8 billion, or 0.6% of GDP, in the twelve months to the end of August 2022, according to the accountant general’s estimate. Servicing the national debt of more than 1 trillion NIS will cost some 34 billion NIS in 2022.

NIS 700 million was paid into Israel’s sovereign wealth fund from gas profits this August, following NIS 1.1 billion paid into the fund in June.

92% of the planned costs for aid in connection with the Covid-19 pandemic have been completed. The total amount of assistance between 2020 and 2022 was NIS 178.5 billion.

In August itself, the budget deficit amounted to NIS 1 billion.

Posted by Globes, Israel Business News – en.globes.co.il – 09/08/2022.

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