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Israeli budget deficit set at 17%

Posted By admin On May 3, 2009 @ 9:41 pm In economy | 2 Comments

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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