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FinancialNews
06-11-18
Israel hits record-high deficit at 3.6 percent
(MENAFN) Israel recorded the highest rate of deficit since 2012 as it hit 3.6 percent of gross domestic product (GDP) in the past twelve months.
The Israeli Ministry of Finance announced the figure, noting that the deficit target for this year stands at just 2.9 percent.
Israel saw around USD2.44 billion of gap between the deficit rate it recorded and the targeted deficit for this year.
State revenues were also revealed to have registered an 8 percent decline compared to October last year, with a 12-percent decrease in indirect taxes along with a 5-percent fall in direct income.
MENAFN0611201800450000ID1097664541
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