The budget deficit is continuing to decline; accelerated economic growth will contribute to
state tax revenues, and help achieve the deficit target
The government budget deficit equaled NIS 2.5bn in March, below the NIS 2.9bn deficit measured in March of last year. An analysis of the data over periods of three months, which are less volatile, attests to an improvement in the budget data after an NIS 80m surplus was measured in the first quarter of the year, compared to relatively high deficits in the comparable periods of previous years (see diagram). The improvement in the budget data in the first quarter compared to the corresponding period last year stems primarily from a relatively high 14% real increase in tax revenues.
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