Israel's Fiscal Deficit Widens as Tax Revenue Drops and Spending Rises

Israel's fiscal deficit widened to 1.3% of GDP in August, exceeding the government's 1.1% target
State revenue from taxes declined 4.3% year-on-year, led by a sharp drop in real estate taxation
Government spending increased 9.4% since the start of the year
Income from real estate taxes dropped 43% year-on-year
Economists warn Israel will struggle to meet its deficit target amid slowing global economy and uncertainty over judicial reforms

timesofisrael.com

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Posted 9/10/2023, 2:45:36 PM