BREAKING NEWS

Facing a 10% deficit at year’s end, gov't to cut NIS 2.5b. each month

JULY 28, 2020 21:19

The government means to cut back NIS 2.5 billion each month starting in August to compensate the cost of its "Check for Every Citizen" and Safety Net plans, KAN reported on Tuesday evening.

The Finance Ministry’s departing accountant-general Roni Hezekiah warned the government in June that he will be compelled to take this measure unless a budget is agreed upon. The ministry estimates the deficit to be at 7% now and 10% by year’s end.

The administration is expected to cut back on welfare services, this at a time of roughly one million unemployed Israelis and an increase in depression and anxiety due to the COVID-19 pandemic.

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