The deficit in September continued to decline and amounted to NIS 6 billion - Fallen to 7.4% of GDP

The deficit in September continued to decline in September and amounted to NIS 6 billion. In the last 12 months, the deficit has fallen to 7.4% of GDP. State revenues since the beginning of the year amounted to NIS 295 billion, while state expenditures amounted to NIS 346.7 billion.
The deficit shrank mainly due to the sharp 26% increase in state revenues in the first three quarters of the year. State revenues from the beginning of 2021 on taxes have jumped by 19.7%, with the sharpest increase (26.3%) recorded in direct taxes.

At the same time, "other income" was recorded for the state, which jumped by 457% to NIS 19.2 billion, due to Social Security deposits in the Treasury and Social Security uniforms, after in 2020 these deposits were stopped due to the need to transfer large-scale unemployment payments.
The Ministry of Finance says that due to the shortage of working days in September, tax payments of NIS 8.2 billion were shifted from September to October, but if the diversion of these funds is neutralized, then September ended with a budget surplus.
The state's tax revenue forecast made by the chief economist at the Ministry of Finance spoke of revenues of NIS 387 billion, while in practice the state's revenues totaled NIS 297 billion, which is a little more than 76% performance, a good figure but to meet the state revenue forecast the tax collection rate must be increased. As long as there is such a possibility.
The follow-up budget framework included an expenditure forecast of NIS 420 billion, when in fact the government we mentioned entered into office last June, NIS 300.3 billion, which constitutes 71.5% of the follow-up budget, so that in total there is a match between the government's revenues and its expenditures.
The "ordinary" state expenditures, excluding corona budgets, have so far reached NIS 300 billion, which is 71.5% of the state's continuing budget. However, with the approval of the budget in the Knesset, the budget will increase to about NIS 430 billion.
To finance the deficit, in September the Treasury raised NIS 5.7 billion in local debt and about NIS 300 million in foreign debt. In September, the total implementation of the assistance program for dealing with the corona reached only NIS 1.6 billion - the lowest amount since the outbreak of the crisis. For comparison, the average monthly execution of aid programs since the beginning of the corona reached NIS 8.7 billion.