BREAKING NEWS

Finance Ministry announces 4.65% deficit target

By JPOST.COM STAFF

MAY 3, 2013 18:17

The Finance Ministry announced Friday that it had decided to put the 2013 deficit target to 4.65 percent from 3% of GDP, instead of 4.9% as he had originally proposed.

Credit ratings agency Standard & Poor’s on Thursday downgraded Israel’s local currency credit rating to A+ with a stable outlook, from AA-.

Lapid brushed aside the downgrade, saying it “is not surprising. It came in response to a situation we are fixing now.”

Niv Elis contributed to this report

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