Israeli government deficit expected to jump to more than 10%

AMMAN – Standard & Poor's credit rating agency has forecasted that Israel's government deficit is expected to deepen to more than 10 percent as Gross Domestic Product (GDP) contracts by 5 percent in the fourth quarter of the current year. اضافة اعلان

As reported by Al-Mamlaka TV, it is anticipated that the per capita GDP in Israel, in terms of dollars, will decrease by 15 percent at the end of 2024 compared to its level at the end of 2022.

The expected growth for Israel is projected to be 1.5 percent for the current year and only 0.5 percent in 2024.

Standard & Poor's expects a sharp increase in the Israeli government debt-to-GDP ratio to a level exceeding 67 percent of the GDP compared to the current 60 percent. The agency also anticipates that the debt level will remain high until 2026.

At the end of last month, Standard & Poor's downgraded its outlook for Israel from stable to negative due to the consequences of the war. This means that the agency will consider a medium-term rating downgrade.


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