Israel’s government deficit on target
Israel’s government deficit in 2002 amounted to some 19.3 billion Israeli shekels ($3.9 billion), which is 3.97 percent of the gross domestic product (GDP), in line with the June 2002 economic plan.
The government's domestic deficit for 2002, without net credit, totaled some NIS 19.2 billion while in its overseas activity the government sustained a small deficit of NIS 0.1 billion, compared with the planned deficit of about NIS 1.7 billion, reported the Accountant-General's Department.
“The deficit target was met despite the delay in receipt of US civil aid, the continuing decrease in state revenues and the delay in instituting some of the legislative amendments approved by the government,” stated Accountant General, Nir Gilad.
Minister of Finance Silvan Shalom stated that passing the state budget for 2003 and meeting the deficit target for 2002 are testimony to the responsibility inherent in the government's budgetary policy.
The Ministry of Finance reiterates that in light of the complexity entailed in processing the figures and because they are preliminary estimates, the figures may be updated upon receipt of additional data.
The Ministry of Finance advised that the deficit figures and their financing published in the attached announcement appear on the website of the Accountant-General's Department, where the figures are periodically updated. — (menareport.com)
© 2003 Mena Report (www.menareport.com)