THE Israeli government’s 12-month budget deficit increased significantly from 300 million shekels (82.7 million U.S. dollars) to 4.9 billion shekels in a month, mainly due to the shrinking tax revenues.
The Israeli government’s total tax revenues decreased by a real rate of 8.9 percent year-on-year in the first four months of 2023.
The decrease was mainly due to a steep decline in the collection of real estate taxes by 34.9 percent year-on-year during January-April, and by 48.9 percent in April alone compared to April last year, with both figures in real terms.
