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Budget deficit swells as July overspending hits NIS 1.7b

Tuesday, August 7, 2012

WN.com - Business News
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Budget deficit swells as July overspending hits NIS 1.7b
Aug 8th 2012, 02:12

The budget deficit remained large last month at NIS 1.7 billion and government spending was higher than in July 2011, the Finance Ministry said yesterday. On the other hand, the government's announcement that it would raise value added tax from 16% to 17% sent many Israelis out shopping in July. This in turn triggered a jump in the state's take on VAT, customs duties and...
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