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Israeli budget deficit set at 17%

The government has approved a $60 billion budget with an $11 billion deficit. The budget comes in at 33 percent of the projected $180 billion GDP, one of the highest ratios in the Western world.

Due to the economic crisis, the budgetary income is likely to be smaller than expected, and the expenditures will greater than expected. Despite the crisis, the government has increased its expenditures and refused to cut the bloated ministries and other pork-barrel spending.

The usual culprits—Shas, UTJ, and Histadrut—are decrying the budget as not sufficiently sensitive to their predatory needs.

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Comments

Israeli Budget comes as no surprise since in many countries there’s deficit too because of the crisis. Probably, Israeli Budget is not the worst thing to have happened.

Nolan Opelika 14 April 2010

It’s natural to expect these expenditures. Israel has started manufacturing the tavor and it definitely requires a lot of money.

Dion Opheim 14 April 2010

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