Israel’s 12-Month Fiscal Deficit Narrows to 3.2% of GDP in August

Israel’s 12-month fiscal deficit narrowed to 3.2% of GDP, or NIS 71.1 billion, in August from 3.3% in July, Finance Ministry data showed. The monthly deficit was NIS 7.9 billion, down from NIS 9.6 billion a year earlier, while the January-August deficit fell to NIS 19.2 billion from NIS 46.8 billion. Year-to-date revenue rose 11.5% to NIS 410.1 billion, while spending grew 3.6% to NIS 429.3 billion. The deficit remains below the 4.9% statutory target, though the Ministry cautioned that spending growth is expected to rise.