Israel's fiscal deficit has narrowed for the first time since the start of the war. The deficit for the twelve months to the end of October this year was 7.9% of GDP, or NIS 154 billion. The fall in the fiscal deficit follows 18 consecutive months of rises. Minister of Finance Bezalel Smotrich estimates that his ministry would succeed in bringing the deficit within the 6.6% GDP target by the end of 2024. However, the Bank of Israel research department forecasts a 7.2% fiscal deficit at the end of 2024.
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