Israel’s fiscal surplus up to $3 billion August 8, 2022Israeli shekels (Shutterstock)(Shutterstock)Israel’s fiscal surplus up to $3 billion Tweet WhatsApp Email https://worldisraelnews.com/israel-fiscal-surplus-up-to-3-billion/ Email Print The change is credited to more tax revenues collected by the State since the ending of Covid-19 shutdowns and a return to regular tourism levels.By TPSIsrael’s Ministry of Finance Accountant General reports that in the 12 month period ending July 2022 the nation’s fiscal surplus totaled 9.7 billion shekels ($3 Billion), or 0.6% of GDP. The surplus means that Israel is bringing in more in tax revenues than it spends.June was the only month during this period of time to have a fiscal deficit.This is in stark contrast to a fiscal deficit seen in the preceding 12 months ending July 2021 which totaled 44 billion shekels ($14.25 million). This represents a turnaround of more than $17 billion.The change is credited to the sharp increase in tax revenues collected by the State since the ending of Covid-19 related shutdowns and a return to regular tourism levels. israel tax authorityministry of finance
