Israel's budget deficit widens to $29 billion in February. The fiscal deficit increased by 0.8% during the past month alone, amounting to 13.4 billion shekels ($3.72 billion) Israel's amended budget for 2024 - scheduled to be approved by the Knesset (the Israeli parliament) on Wednesday - assumes that the budget deficit will remain at 6.6% for the entire year.
Israel's economy contracted more in the last quarter of 2023 than previously thought, with consumer spending, exports, and investments severely affected.