Israel budget deficit spikes in November due to Gaza war expenses


© Reuters. An Israeli soldier gestures while riding in a military vehicle, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, near the border with Gaza, in southern Israel, December 9, 2023. REUTERS/Athit Perawongmetha

JERUSALEM (Reuters) – Israel posted a budget deficit of 16.6 billion shekels ($4.5 billion) in November, the Finance Ministry said on Sunday, citing a jump in expenses to fund Israel’s two-month old war with Hamas militants in the Gaza Strip.

As a percentage of GDP, the deficit over the prior 12 months rose to 3.4% in November from 2.6% in October, it said.

A ministry source said the deficit for 2023 would end around 4% of GDP.

The ministry noted that revenue fell 15.6% last month, partly due to tax deferments as a result of the war that began on Oct. 7.

Israel’s deficit in October was 22.9 billion shekels and in November 2022 it was 1.7 billion.

($1 = 3.7033 shekels)

antaranews

Leave a Comment

zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy zhsy