According to the Bank of Israel, foreign reserves have increased substantially. The safety cushion for the national economy of Israel shrinked.
In the press release the Bank of Israel states for the November: “Israel’s foreign exchange reserves at the end of November 2022 stood at $194,414 million, an increase of $5,572 million from their level at the end of the previous month. The level of the reserves relative to GDP was 37.5 percent.”
The chart below from the Bank of Israel gives details.
GLOBES reports that: “For the third successive month, Israel reported a fiscal deficit in November after government expenditure was NIS 1.2 billion higher than state revenues, the Ministry of Finance Accountant General department reports. However, since the start of the year, Israel has recorded a fiscal surplus of NIS 28.9 billion. Over the past 12 months the fiscal surplus has shrunk to NIS 7.5 billion, or 0.4% of GDP.”
