Israel government debt falls to 86% of GDP

This is the first time that government debt has fallen below 90% of GDP.

The government debt was NIS 537.1 billion in 2006, 86% of GDP, reports the Ministry of Finance Account General Department. This is the first time that the government debt has fallen below 90% of GDP.

The government debt comprises NIS 255.2 billion in domestic convertible debt, NIS 145.3 billion in domestic non-convertible debt, and NIS 136.6 billion in foreign debt.

At the end of December 2006, the breakdown of the debt was as follows: unlinked debt - NIS 146.6 billion; CPI-linked debt - NIS 108.3 billion; pension funds - NIS 105.2 billion; guarantees - NIS 63.1 billion; to insurance companies - NIS 31.5 billion; independent issues of government bonds on international markets - NIS 20.1 billion.

Published by Globes [online], Israel business news - www.globes.co.il - on February 19, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007

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