State Budget Balance in Israel

The monthly budget balance measures the difference between the revenue and spending of Israel's central government (excluding credit operations) in each month. A negative figure indicates a deficit (spending above revenue) and a positive one a surplus. It is published by the Ministry of Finance.

The Ministry of Finance publishes the monthly budget outturn (central government revenue minus spending, excluding credit transactions). The Bank of Israel re-publishes this series in its statistical database (public sector) on a monthly basis.

Persistent or widening deficits push up public debt and may require heavier bond issuance, affecting interest rates and the shekel. Given the high monthly volatility (VAT, tax calendar), the market usually looks at the year-to-date total to judge the fiscal path.

A figure that is not seasonally adjusted and subject to strong month-to-month volatility from the government's collection and payment calendar; direct year-on-year comparisons can be misleading without looking at the cumulative total.