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Netanyahu Shares Responsibility for Israel's Growing Deficit

25 0 4
14.01.2019

The government decided Sunday not to use the budget reserves to reduce what is expected to be a large deficit in 2019. Instead, it postponed the decision until June, after the election.

The original budget deficit forecast for 2019 was 2.9 percent of the gross domestic product, or 40 billion shekels ($11 billion). That’s already very high. But it is now expected to be even larger, at 50 billion shekels, or 3.6 percent of GDP. That’s already genuinely dangerous.

What makes the economic hole left by Finance Minister Moshe Kahlon and Prime Minister Benjamin Netanyahu even deeper and more frightening is that the deficits are slated to keep growing in the national budgets for 2020 to 2022. And that’s even before a series of expenses are taken into account, including the coalition agreements the........

© Haaretz