Finance Ministry: NIS 1B fiscal surplus in September

Analysts believe September's surplus was the result of higher tax revenue, NIS 17.7 billion compared to NIS 15.3 billion year on year
 
The Finance Ministry announced last Tuesday that the Israeli government had an NIS 1 billion (approx. $280 million) budget surplus in September 2010.
 
The surplus beat predictions of a deficit to that effect. Analysts believe September's surplus was the result of higher tax revenue.
 
Total tax revenues for September were up, totaling NIS 17.7 billion, compared to NIS 15.3 billion in September 2009.
 
For January - September 2010, the government deficit was NIS 13.6 billion, (US$3.76 billion), compared to an NIS 23.2 billion (US$6.42 billion) deficit for the corresponding period in 2009.
The government experienced a NIS 1.3 billion (US$360 million) surplus domestically, while its foreign activities saw a NIS 400 million (US$110.6 million) deficit.
 
The data, according to the Treasury, mean 2010's deficit will be significantly smaller that the predicted and is unlikely to exceed 4%. Government expenditures totaled NIS 19.9 billion (US$5.5 billion) in September.