Israel debt burden rose to 61 pct of GDP in 2018


JERUSALEM, April 15 () - Israel's ratio of debt to gross domestic product rose to 61.0 percent in 2018, the Finance Ministry's accountant general said on Monday, in a revision from a preliminary estimate of 61.2 percent.

The debt ratio was 60.5 percent in 2017. It rose last year as overall debt increased by more than 40 billion shekels ($11.23 billion), and amid a significant depreciation of the shekel against the dollar and euro, the ministry said.

The Bank of Israel has urged budget cuts and tax hikes to prevent the ratio from climbing further. . Much will depend on the make up of a new governing coalition after last week's general election.

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