Today: 5 May 2025
11 April 2022
1 min read

Israel’s budget deficit continues to narrow

Israel’s budget deficit over the 12-month period ended in March has declined to 22 billion new shekels ($6.83 billion), according to a report released by the country’s finance ministry…reports Asian Lite News

This deficit figure, between April 2021 and March 2022, accounts for 1.4 per cent of Israel’s gross domestic product, the lowest rate since 2008, Xinhua news agency reported, citing the ministry.

The report said the continuing increase in state revenues and decline in government expenditures have helped to narrow the budget deficit.

Since the beginning of 2022, the Israeli government’s revenues reached 125.6 billion shekels, up by 29.3 per cent year on year, while the expenditures totalled 102.2 billion shekels, which saw a declination of 15.2 per cent from the same period of last year.

ALSO READ: Tourist arrival in Israel nearly double in first quarter of 2022

The report attributed the spending declination in the first quarter to the Israeli government’s gradual withdrawal from the financial support plan for the Covid-19 pandemic, which was launched in July 2020 to help the vulnerable in the country.

In the first quarter, a surplus of 23.4 billion shekels was recorded in the Israeli budget, compared with a deficit of 23.3 billion shekels in the same period last year. A surplus of 700 million shekels was recorded in March, compared to a deficit of 12.2 billion shekels in March 2021.

This is the first time since 2007 that in a single quarter, a surplus is recorded in each of all three months.

Previous Story

Jordan’s King departs for Germany for urgent surgery

Next Story

One Billion Meals Campaign Gathers Momentum

Latest from Arab News

UAE Reopens Doors to Lebanon

The prime minister expressed Lebanon’s “utmost gratitude and appreciation to the UAE” and President Sheikh Mohamed bin Zayed Al Nahyan….reports Asian Lite News Lebanon welcomed the decision by the United Arab Emirates

SYRIA RAIDS: Arab League Slams Israel

The Arab League condemned the airstrikes and called on the international community and the United Nations to confront what it described as “repeated violations committed by Israel against the Syrian state.” The

Abu Dhabi, Beirut Reconnect 

A key highlight of Aoun’s visit to UAE was the agreement to ease travel restrictions between the two countries — a move set to facilitate the movement of citizens and promote closer

ATM 2025 sets new standard 

The global event drew over 55,000 travel and tourism professionals from 166 countries, marking a 16% year-on-year increase in attendance and cementing Dubai’s role as a key hub for shaping the future

Iran Calls on India to Break Sanctions Barrier 

Calls grow louder from Iran’s industry leaders for India and international bodies to mediate financial and shipping barriers imposed by Western sanctions.  Top Iranian manufacturers are appealing to India and global organisations
Go toTop

Don't Miss

Iran welcomes expanding ties with Central Asian nations: Raisi

Iranian President Ebrahim Raisi said that Tehran welcomes the constant

Life Pharmacy Adds 25 More Outlets to Mark 25th Anniversary

UAE-based Life Pharmacy opens 25 Life Pharmacy outlets on the