Government spending jumps - but ministries still underspending their budgets
Increase in ministerial spending focused on the 'social' ministries, in which spending in September increased by 8.7%, compared with the monthly average of the previous three months.
Government expenditure totaled NIS 20.7 billion in September, excluding net credit - 4.5% higher than the monthly average of the previous three months. The figure is 12% higher than the monthly average this year, reported the Finance Ministry's accountant general on Thursday.
Yet the ministries are still underperforming their budgets, which in English means they aren't using up the money allocated to them. From the start of the year, the ministries have spent NIS 169 billion. This is 4.7% more in nominal terms than in the same period of the year before, but the budget is based on an increase of 7.4% in annualized terms. So far the ministries have spent 69.8% of their budget for the year.
Mindful of the protests shaking up the country, the Finance Ministry stressed that the increase in ministerial spending focused on the "social" ministries, in which spending in September increased by 8.7%, compared with the monthly average of the previous three months.
The Finance Ministry also said that tax revenue has totaled NIS 160 billion from January to September - an increase of nearly 9% against the same period of the year before in nominal terms.
The actual budget deficit is running at only 38.5% of the planned deficit, which will leave the state with a large surplus at the end of the year. The total deficit in the first nine months of the year was NIS 9.7 billion, compared to NIS 14 billion in the same period of last year.
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