Font Size: A A A
Go to:
×
More in Industry & Trade: Customs | Economy | Trade | Infrastructure
Voyage Search
General Shipping Search
Please select a port in Israel
Please select a port overseas
Exports from Israel
Imports to Israel
Tools & Calculators
Currencies
Update date: 14.12.2019
Currency Rate % Change
USD 3.476 -0.144
EUR 3.8857 +0.289
GBP 4.6643 +1.834
100 JPY 3.1707 -0.999
Currency calculator
Calculators
length area vol. weight
cm
m
km
inch
foot
yard
mile
Clear
square cm
square m
square km
square inch
square yard
square mile
Clear
cc
litre
cubic m
cubic inch
cubic yard
gallon
Clear
kg
short ton
long ton
lb
oz
Clear
Volume Weight Calculator
Ports' Workplan

Israel's government debt drops to 73.3% of GDP

At the end of 2011, the government debt totaled NIS 633 billion, compared with NIS 608 billion at the end of 2010
05.03.12 / 00:00
Israel's government debt drops to 73.3% of GDP
05.03.12
Israel's government debt drops to 73.3% of GDP

At the end of 2011, the government debt totaled NIS 633 billion, compared with NIS 608 billion at the end of 2010.
 
Government debt reached 73.3% of gross domestic product (GDP) in 2011, compared to 74.9% the previous year, the Debt Management Unit of the Accountant General's office at the Finance Ministry announced last Monday.
 
At the end of 2011, the government debt totaled NIS 633 billion, compared with NIS 608 billion at the end of 2010.
 
The Ministry of Finance explains that the nominal growth in government debt is due to NIS 12 billion positive net funding, and to the rise in inflation, which contributed an additional NIS 7 billion to the growth in government debt.
 
In addition, Ministry of Finance data show that public debt which measures the government’s debt plus the debts of all municipal authorities, as a proportion of GDP fell 1.6% to 74.7%. Treasury Accountant- General Michal Abadi- Boyanjo said credit-rating agencies place great importance on debt-to- GDP ratios when they make their decisions.
 
Israel’s government debt is relatively low when compared to the 17-nation euro bloc, whose combined debt-to- GDP ratio is forecast by the European Commission to rise above 90% this year.
 
However, the Government's debt-to- GDP ratios it is still not low enough, according to the Organization of Economic Cooperation and Development, which recommended in its biennial report on Israel in December that the government prioritize reducing debt to 60% of GDP by 2020.
 

 

×