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Investing.com -- Israel reported a budget surplus of 23.2 billion shekels ($6.5 billion) in January, according to the finance ministry’s announcement on Monday. This surplus was due to a substantial increase in tax income, while expenses remained restrained due to the absence of an approved 2025 state budget.
The surplus in January resulted in a narrowing of the budget deficit to 5.8% of the gross domestic product (GDP) over the previous 12 months. This is a decrease from the 6.9% budget deficit recorded in December. The December deficit had exceeded the 2024 target of 6.6% as a result of military conflicts in the region.
There was a significant increase in tax revenue in January, with a rise of 40.4% reported. This sharp increase in tax income contributed significantly to the budget surplus for the month.
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