Israel budget deficit dips to 7.9%/GDP in Oct despite higher war expenses By Reuters

JERUSALEM (Reuters) – Israel posted a budget deficit of 11.2 billion shekels ($3.0 billion) in October, the Finance Ministry mentioned on Monday (NASDAQ:), citing high payments to finance the wars with the Palestinian Islamist militant workforce Hamas in Gaza and Hezbollah in Lebanon.

The deficit for the 12 months to October dipped to 7.9% of notorious domestic product, from 8.5% in the 12 months to September, in contrast to a purpose of 6.6% for all of 2024. The ministry mentioned that in spite of the decline, the deficit will exceed 6.6% in 2024.

Spending on the wars, which began closing October, has topped 106 billion shekels.

Tax income rose 21.3% in October is up 4.2% over the first 10 months of 2024.

($1=3.7279 shekels)