Government debt-to-GDP drops to 73.3%

By NADAV SHEMER
February 27, 2012 14:27

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

Government debt reached 73.3 percent of gross domestic product in 2011, compared to 74.9% the previous year, the Finance Ministry announced Monday.

Government debt actually increased by NIS 24.8 billion in numerical terms, reaching NIS 633 billion. The Finance Ministry said several factors were responsible for this, including the rise in inflation and the depreciation of the shekel against the US dollar.

Public debt, which measures the government’s debt plus the debts of all municipal authorities, dropped from 76.3% to 74.7%.

Data provided by the Finance Ministry showed that both government and public debt have dropped gradually over the past decade. In 2003, government debt-to-GDP stood at 96.8%, while public debt-to-GDP stood at 99.2%.

“The continued decrease in our debt-to-GDP ratio, particularly when set against the backdrop of the marked growth of other countries’ debt-to-GDP ratios, testifies to the contribution this government’s fiscal discipline and long-term economic policies have made to economic growth and to foreign investment in Israel,” Finance Minister Yuval Steinitz said.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

Breaking news
November 13, 2018
Amazon to announce cities to build 'HQ2'

By REUTERS