Israel's fiscal deficit has narrowed for the third consecutive month and ended 2024 at 6.9% of GDP, below the revised ceiling of 7.7% approved by the Knesset. The better than expected figure was influenced by tax payments by the public seeking to beat tax hikes at the start of 2025. The removal of a large deficit figure from December 2023 has greatly eased the deficit over the past 12 months. The fiscal deficit widened during the war in 2023 but has been gradually narrowing since September 2024.
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