Israel’s cumulative deficit over the past 12 months was 7.2% of GDP at the end of May, the Finance Ministry reported Sunday. A deficit ceiling of 6.6% that was set by the Knesset in the updated 2024 budget was supposed to apply until the end of the year.
The monthly deficit for May was NIS 10 billion, and the deficit since the start of the year is NIS 46.7b., the report said.
Including war spending, public expenditures grew 35% from January to May compared with the same period last year. Accounting for the costs of the war, expenditures grew 10%.
Public income from January to May this year increased 2% compared with the same period last year.