Fiscal Balance in Israel

Israel Fiscal Balance | Economic News & Forecasts

Israel - Fiscal Balance

The economy lost steam in Q3, amid a surge in Covid-19 cases and the consequent tightening of restrictions. Looking at subsectors, private consumption growth slowed notably, while public spending slipped into contraction and fixed investment accelerated. However, the overall GDP slowdown was exaggerated by the effect of lower taxes on car imports—a factor which frequently distorts Israel’s national accounts figures. Turning to Q4, October’s Composite State of the Economy Index reading suggests activity is accelerating, with the services sector likely benefiting from tumbling Covid-19 cases as the vaccine booster campaign has been rolled out. However, the sudden border closure in November will be hitting tourism. In politics, the government approved the 2021 and 2022 budgets in November, averting snap elections. The budgets also contain structural reforms with the potential to boost future growth.

Israel - Fiscal Balance Data

2015   2016   2017   2018   2019  
Fiscal Balance (% of GDP)-2.1  -2.1  -2.0  -2.9  -3.7  

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Israel Fiscal Balance Chart

Israel Fiscal
Note: Fiscal balance as % of GDP.
Source: Central Bank of Israel.

Israel Facts

Value Change Date
Bond Yield0.98-1.69 %Jan 01
Exchange Rate3.46-0.37 %Dec 31

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