Jerusalem, August 8 (Xinhua)-Israel’s annual budget deficit has fallen to 133.2 billion shekels, or about US $ 41.3 billion, according to a report released by the state Treasury on Sunday.

The annual deficit gradually increased from March 2020, peaked at 173.9 billion shekels (US $ 53.9 billion) in February 2021, and then decreased to the current figure.

The annual budget deficit from August 2020 to July 2021 accounted for 9.3% of Israel’s gross domestic product (GDP), compared to the 10.1% reported in June, but still the government’s target. It is well above the 3%.

During the first seven months of 2021, Israel’s budget deficit reached 44.4 billion shekels, while last January-July deficit was 71.3 billion shekels.

Compared to 12 billion shekels in July 2020, the deficit reached 800 million shekels in July alone.

Since the beginning of 2021, the Israeli government’s revenues have reached 231.5 billion shekels, a sharp increase of 29.5% over the previous year, and spending totaled 275.9 billion shekels, an increase of 10.4%.