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Israel records a budget deficit of 4.2% of GDP in 2023

Middle East News

2024-01-11 | 07:27

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Israel records a budget deficit of 4.2% of GDP in 2023

According to the Israeli Finance Ministry, Israel has reported a budget deficit amounting to 4.2% of the gross domestic product (GDP) in 2023.

This follows a surplus of 0.6% in 2022, with the shift attributed to increased government spending to finance the war against the Palestinian Islamic Resistance Movement, Hamas.

The ministry clarified that the recorded deficit in December amounted to 33.8 billion shekels (nine billion dollars), contrasting with the 18.5 billion shekels of the previous year.

Reuters

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