 2006
fiscal deficit NIS 5.5b - The Finance Ministry attributes the low
2006 deficit to a revenues surplus of NIS 11.9 billionAuditors
give Palomar College finances high marksCitigroup
to close most of Japan consumer finance branchesClal Finance sets $2.40 target
for Tower - Tower Semiconductor has a new contract for audio processors
with Taiwan's ModiotekExclusive!
Big money backs McCain in S.C. - Arizona senator lines up impressive
list of 2008 finance committeeFinance director not
yet named. Interim director receives praise from colleagues for
performanceFree
tax and finance seminar for businessesFrom steel to tech
to finance, Northwest companies shineIdeal
for state taxpayers, but state finances sufferLibraries'
free workshops focus on family financesLocal
officials in the fields of education, health and finance offer tips
on how to make 2007 a year to rememberMacon
finance chief to look at fundraising regulationsOlmert
tells Fischer to sign Bank of Israel wage deal - Finance Ministry
director of wages threatens to quit over agreementReverse
mortgage tool to aid senior finances - Popularity increasing as
awareness growsSpecial
committee will oversee Suffolk financesTransit
authority shelves regional sales tax plan - Group to explore other
ways to finance rail line |
2006 fiscal deficit NIS 5.5b - The Finance Ministry attributes the low 2006 deficit to a revenues surplus of NIS 11.9 billion Israel's budget deficit totaled NIS 5.5 billion in 2006, 0.9 percent of GDP, compared with the planned deficit of NIS 17.2 billion, or 3 percent of GDP. The deficit of NIS 7.8 billion in December did not change the 2006 budget picture. The budget deficit fell from 5.4 percent of GDP in 2003 to 3.7 percent in 2004, 1.9 percent in 2005, and 0.9 percent in 2006. The Ministry of Finance attributes the low 2006 deficit to a revenues surplus of NIS 11.9 billion, even after paying NIS 2.8 billion in compensation to residents of Haifa and northern Israel for war-related damage. Government spending rose by 5.3 percent in nominal terms in 2006, and by 6.3 percent including war-related compensation. Privatization proceeds totaled NIS 4.7 billion, which, for the first time, made possible negative capital raising amounting to NIS 6 billion. The low budget deficit also contributed to rapid growth, which boosted GDP to NIS 625.1 billion, a reduction in inflation to almost nothing, and a sharp appreciation of the shekel against the dollar. The government posted a budget surplus of NIS 1.1 billion in domestic activity, compared with a planned deficit of NIS 8.6 billion. The government posted a budget deficit of NIS 3.9 billion in overseas activity, compared with a projected deficit of NIS 6 billion. State revenues from taxes and fees totaled NIS 11 billion in December, down 11 percent in real terms. Revenues from taxes and fees totaled NIS 176.2 billion in 2006, an increase of 6.8 percent in real terms, and an 11 percent increase if legislative amendments are discounted. |