Macroeconomic Forecast Israel

Our deficit expectations for this year are higher than the government's - we are anticipating the budget deficit to be equivalent to 5.0% of GDP, while the administration is committed to achieving a deficit below 4.0% of GDP. If tax revenues continue to rise, and the finance ministry reins in spending further, we believe the deficit will fall to 3.0% of GDP by 2005, in line with the government's own revised forecast of 2.5-3.0% of GDP.

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