Israel posted a budget deficit of 4.6% of gross domestic product in the 12 months to November, down from 5.5% in the year to October, the Finance Ministry said on Wednesday, Trend reports with reference to Reuters.
The improvement has come amid an economic rebound that has led to higher than expected tax revenue. Over the past 11 months, tax income is up 23.1% from the same period in 2020.
In shekel terms, the deficit was 600 million shekels ($193 million), to bring the gap to 47.7 billion shekels since the start of the year.
The finance ministry last month trimmed its 2021 budget deficit target to 5.5-5.7% of GDP from 6.8% due to higher than expected tax revenues, reflecting a rapid economic recovery from the coronavirus pandemic.