The national budget deficit has jumped to 7.2% of the gross domestic product, with a shortfall of NIS 70 billion ($20.6 billion), the Finance Ministry said Wednesday.
The national deficit stood at 6.4% of the GDP in June and 6% in May. The deficit in the corresponding period in 2019 was NIS 24 billion ($7 billion).
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According to the ministry, the deficit has continued to steadily increase since the coronavirus pandemic hit Israel in mid-March.
Treasury figures show that the government has injected NIS 57 billion ($16.7 billion) into the economy as part of its stimulus plan, or 42% of the NIS 135 billion ($40 billion) economic aid packaged passed by the government to help the private sector recover from the corona crunch.
Finance Ministry officials said that they estimated that by the year's end, the national deficit could reach between 10% and 11% of the GDP.
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