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FinancialNews
15-06-19
Israel to slash USD903m to curb deviation in budget deficit
(MENAFN) Israel, as the Ministry of Finance declared, is planning to step up its efforts to tackle the deviation in high budget deficit.
By 2020, the deficit is expected to hit 4 percent of the gross domestic product (GDP) with no reductions or taxes, the Ministry of Finance stressed.
According to the ministry, among the new measures, Israel will be slashing USD903 million of the state budget.
Cuts and tax hikes are forecast to push the Israeli deficit to reach 3.8 percent, instead of 4 percent.
MENAFN1506201900450000ID1098639495
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