Daily Israel Report
16:16
Reported

News Brief

  7/1/2012, Tammuz 11, 5772

Cabinet Approves Increased Budget Deficit


The cabinet approved, Sunday, an increase in the budget deficit in 2013 to three percent, followed by a sequence of decreases in the deficit of budgets forthrough 2019, according to the recommendations of Prime Minister Binyamin Netanyahu and Treasurer Yuval Steinitz. The sequence will continue to reduce the ratio of the debt to the gross domestic product (GDP) to about 60 percent in the 2020 budget year.

During discussion of the financial document, Education Minister Gid'on Sa'ar expressed his support, saying it was not extreme but measured. He noted that Israel had reduced the ratio of debt to GDP in the past.