Budget Deficit in Israel Reaches 7%

The Israeli Ministry of Finance announced today, Thursday, that "Israel recorded a budget deficit of 11.7 billion shekels (3.1 billion dollars) in April, attributing this to increased expenditures due to the fight against Hamas in Gaza." The deficit over the last 12 months until April rose to 7% of the GDP compared to 6.2% in the year ending in March, surpassing the target of 6.6% for the entire year of 2024. Additionally, tax revenues decreased by 4.1% in the first four months of the year, and tax income fell by 13.1% in April alone.