Fiscal deficit to decline sharply on robust revenues

ISRAEL - Report 02 Aug 2021 by Jonathan Katz

1. In 2022, The fiscal deficit is expected to return to pre-Covid levels without any consolidation.

2. Rapid growth in tax revenues has resulted in downward fiscal deficit forecasts.

3. Rapid growth in hi-tech service exports is offsetting a worsening trade deficit; fundamentals remain strongly shekel supportive.

4. PC demand increased significantly in June, as fewer Israelis decided to travel abroad.

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