The Ministry of Finance announced that the government deficit totaled NIS 7.4 billion in October 2015.
The ministry noted that the cumulative budget deficit over the past 12 months (November 2014-October 2015) amounts to 2.1% of GDP, compared with 2% of GDP in the preceding month.
As a percentage of GDP, the budget deficit is still relatively low, and is expected to rise gradually in 2016. Government spending, excluding repayment of debt principal, totaled NIS 28 billion in October, and spending by government ministries was NIS 22.1 billion.
Interest payments on government debt amounted to NIS 3 billion, and payments to the National Insurance Institute totaled NIS 2.9 billion. Tax receipts in October totaled NIS 20.6 billion.