January budget surplus slips in 2013

By
February 7, 2013 17:33

 
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 analysis 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

In the first month of 2013, Israel posted a budget surplus of NIS 2.6 billion, the Ministry of Finance announced Thursday.

While a surplus is positive news in comparison to the NIS 39b. budget deficit in 2012, which caused a political upheaval in the run-up to the general elections on January 22, the news is not as good as it may first sound.Differences in seasonal spending mean that the budget in January is not representative of the year. Despite the overall deficit in 2012, for example, in January of that year the government posted a surplus of NIS 6.1b., over double the current windfall. In comparison to last January, expenditures rose from NIS 17.5b. to NIS 19b., while revenues fell from NIS 23.6 to NIS 21.6. On the bright side, the tax revenues collected exceeded expectations by about NIS 1b.

Because the government has not passed a 2013 budget, it is operating on a "1/12" framework, in which it disperses government offices monthly funds equivalent exactly to 1/12 of the previous year's budget.

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
July 20, 2019
Panama becomes first Central American nation to ban plastic bags

By REUTERS

Cookie Settings