State budget enjoys NIS 1B surplus

Treasury's data suggests government beat prediction of suffering deficit in September, ended month on high fiscal note due to better tax revenue. Figures mean State deficit unlikely to exceed 4% at year's end
Gad Lior |
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September saw the government enjoy an unexpected surplus of NIS 1 billion (approx. $280 million) in its budget, according to the Treasury.
According to Yedioth Ahronoth, the surplus beat predictions of a deficit to that effect. Analysts believe September's surplus was the result of higher tax revenue.
The government experienced a NIS 1.3 billion ($360 million) surplus domestically, while its foreign activities saw a NIS 400 million ($110.6 million) deficit.
The government's budget deficit for the period between January and September 2010 came to NIS 13.6 billion ($3.76 billion), compared with NIS 23.2 billion ($6.42 billion) for the corresponding period in 2009.
The data, according to the Treasury, mean 2010's deficit will be significantly smaller that the predicted and is unlikely to exceed 4%.
Government expenditures totaled NIS 19.9 billion ($5.5 billion) in September.
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