Israel Only Country in West to Reduce Debt

Israel Only Country in West to Reduce Debt

Government's debt-to-GDP ratio expected to total 73.5% in 2012 compared to 74.1% in 2011. Israel also only country in West whose credit rating has increased since 2008

Israel is the only country in the West which has managed to reduce its debt as a proportion of GDP in 2012.

Yedioth Ahronoth has learned that the Israeli government's debt in the past year (which is calculated this week and published soon) will total some 73.5% of GDP, compared to 74.1% of GDP in 2011 and 80% of GDP five years ago.  In total, the State's debts today amount to NIS 720 billion (about $194 billion). The GDP is close to NIS 1 trillion ($267.5 billion)

Debt has increased in all Western countries in recent years, and in some it has even reached more than 100% of GDP.

Full story found here

Posted on Shalom Adventure by: Verna-Lee Small

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