First time since 2007: Budget surplus in the last 12 months in the amount of NIS 6.4 billion

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by Ifi Reporter Category:Capital Market Jul 10, 2022

For the first time since 2007, there has been a budget surplus in the last 12 months in the amount of NIS 6.4 billion, which constitutes 0.4% of GDP. According to the Treasury, this is the highest surplus measured since 1987. This is according to data from June published today (Thursday) by the Ministry of Finance. However, in June itself, a deficit of NIS 1.5 billion was measured, after five consecutive months in which the state budget surplus was measured.
The Treasury emphasizes that the month of June is characterized by a high seasonal deficit. For example, in June last year there was a deficit of about NIS 8.9 billion. Excluding corona expenses, the deficit was about NIS 4.1 billion.
The total budget surplus since the beginning of the year amounted to NIS 31.9 billion, compared with a deficit of NIS 43.7 billion in the corresponding period last year. It will be recalled that this is not Israel's total debt remaining around NIS 1 trillion - for which the state pays interest of NIS 40 billion or more each year.
State revenues since the beginning of the year amounted to NIS 241.2 billion, compared with NIS 193.8 billion in the corresponding period last year - an increase of 24.5% compared with the corresponding period last year. Tax revenues in the first half of 2022 amounted to NIS 227.3 billion, an increase of 25%.
Government expenditures since the beginning of the year amounted to NIS 209.3 billion, of which NIS 9.3 billion were expenditures for the economic assistance program to deal with the corona crisis - a decrease of 11.8% compared to the same period last year, and after neutralizing the aid program an increase of 2.8%.
As part of the economic plan for the Corona crisis, a cumulative sum of NIS 177.9 billion has been spent so far in the years 2020-2022.
Expenditure by government ministries amounted to NIS 179.1 billion in the first half of 2022, less by 14.2% compared with the first half of 2021.

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