Fiscal deficit widens to 3.7%, exceeds target by NIS 12 billion

The deficit totaled NIS 52.2b. ($15b.) during the past twelve months, compared to NIS 38.7b. ($11.14) in 2018.

By EYTAN HALON
Money cash Shekels currency 521 (photo credit: Reuters)
Money cash Shekels currency 521
(photo credit: Reuters)
Israel's fiscal deficit widened to 3.7% of GDP in 2019, missing the government's 2.9% target by 0.8% or NIS 12 billion ($3.45b.), the Ministry of Finance said Monday.
The deficit totaled NIS 52.2b. ($15b.) during the past twelve months, compared to NIS 38.7b. ($11.14) in 2018.
Total government expenditure during 2019 amounted to NIS 399.8b. ($115.1b.), the ministry said, including NIS 348.4b. ($100.3b.) spent by government ministries and a further NIS 51.3b. ($14.77b.) on national debt interest and sums owed to the National Insurance Institute.