On April 28, 2021, the Israeli Ministry of Finance released a report showing that the country achieved a rare surplus in its budget for the first year of 2022. This is the first time since 1987 that government revenues have exceeded spending. The report revealed that in 2022, the government had incomes of NIS 242.3 billion, which was 3.2% higher than the budgeted NIS 235.1 billion. However, total spending was NIS 234.2 billion, which was 2.7% lower than the budgeted NIS 241.1 billion. The surplus was mainly attributed to higher-than-expected revenues in income tax, VAT, and corporate tax. The ministry said that it expects the surplus to reach NIS 3.2 billion in 2022, and to increase to NIS 8.8 billion in 2023. The surplus comes despite a difficult economic situation in the country caused by the COVID-19 pandemic. The government implemented several measures to help the economy, including tax cuts and spending increases. The surplus is a sign that these measures have been effective in helping the economy recover. Finance Minister Israel Katz said that the surplus was a result of the government’s “responsible and prudent management of the economy”. He also said that the government will continue to implement measures to help the economy recover. The Finance Ministry report is a positive sign for the Israeli economy, and is a testament to the effectiveness of the government’s policies. It bodes well for the future of the economy, and hopefully will lead to further economic stability and growth.