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Israel Government Ends 1962-63 Fiscal Year with Budgetary Surplus

The Israel Government has ended its 1962-63 fiscal year with a budgetary surplus of 100,000,000 pounds ($33,300,000), it was reported here today. The year was also the first in Israel’s history without any supplementary budget.

While the Government budget had called for a surplus of 40, 000, 000 pounds ($13,330,000), the higher surplus was due to the fact that actual expenditures amounted to only 91.5 per cent of the estimated amount, while actual revenues totaled 98.6 per cent of the estimates.

The report on last year’s budget, which was issued by the Accountant General, also pointed out that the Government cash balance grew by about 100,000,000 pounds ($33,330,000), bringing the total reserves to 395, 800, 000 pounds ($131,933,000).