Israel budget deficit jumps to 6.2%/GDP in March, nears 6.6% 2024 target

By Thomson Reuters Apr 8, 2024 | 5:20 AM

JERUSALEM (Reuters) – Israel posted a budget deficit of 15 billion shekels ($4 billion) in March, the Finance Ministry said on Monday, citing higher spending as a result of Israel’s war with Palestinian Islamist group Hamas.

Over the prior 12 months, the deficit rose to 6.2% of gross domestic product, versus 5.6% in February and a target of 6.6% for all of 2024.

Tax revenue has also fallen 1.2% the first three months of the year.

(Reporting by Steven Scheer; Editing by Ari Rabinovitch)