Lapid Retreats From Bid to Raise Deficit Budget Target in Wake of Fischer’s Criticism

Following a meeting Sunday with Bank of Israel Governor Stanley Fischer, who had opposed the move, Lapid announced that the target would remain at 3% this year, and would also be 3% next year.

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Finance Minister Yair Lapid has retreated from his suggestion that the country’s budget deficit be allowed to reach 4.2% of gross domestic product this year and 3.5% next year, rather the current 3% limit.