JERUSALEM (Reuters) – Israel posted a budget deficit of 19.2 billion shekels ($5.2 billion) in December, the Finance Ministry said on Monday, citing high expenses to finance the wars with the Palestinian Islamist militant group Hamas in Gaza and Hezbollah in Lebanon.
The deficit for all of 2024 was 6.9% of gross domestic product, compared with 4.2% in 2023. Nonetheless, the December figure was the lowest since March after reaching 8.5% in the 12 months to September and slipping to 7.7% in November.
Due to the wars, the deficit target for 2024 was 6.6%.
Spending on the wars, which began Oct. 7, 2023, reached 125 billion shekels ($34.09 billion).
Tax revenue rose 27.6% in December and gained 7.3% in 2024.
($1 = 3.6635 shekels)
(Reporting by Steven Scheer; Editing by Alison Williams)
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