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Israel Budget Deficit Rises in February Amid Crisis Outlays

Crowds make their way through Carmel market in Tel Aviv, Israel, on March 5.

Crowds make their way through Carmel market in Tel Aviv, Israel, on March 5.

Photographer: Kobi Wolf/Bloomberg

Israel’s 12-month trailing budget deficit grew to 12.4% of output in February, amid government spending to aid the economy through the pandemic, according to data released by the Finance Ministry.

The deficit totaled 10.9 billion shekels ($3.3 billion) in February, compared to 3.3 billion shekels in the same period during the prior year. Officials have spent about 128 billion shekels, or about 61%, of total fiscal aid allocated to navigate the coronavirus outbreak.