Government misses tax target, increases deficit

By JPOST.COM STAFF
June 5, 2012 14:44

The government collected NIS 11.3 billion less in taxes than expected since the start of the year, Israel Radio reported Tuesday.

Coupled with a six percent spending increase over last year, that raised the government deficit to NIS 4.5 billion in the first five months of the year, a giant leap from the NIS 900 million deficit accrued by the same point last year.

All in all, in the past 12 months, the government spent NIS 32.3 billion more than it collected in revenues.


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