The government ended July with a surplus of NIS 409 million against its budget, excluding net credit.

For the first seven months of 2002 the government ran up a deficit of NIS 5.4 billion, according to preliminary treasury estimates.

The government's deficit target for 2002 is NIS 14.6 billion, or 3.9% of expected gross domestic product.

The treasury estimates that the government's domestic activity generated a surplus of NIS 443 million, excluding net credit, or NIS 639 million including net credit.

Its deficit from the beginning of the year excluding credit is NIS 6.2 billion.

The government's activity abroad in July created a deficit of NIS 34 million, bringing the total deficit on overseas activity to NIS 776 million for the first 7 months.

During July the government raised NIS 329 million abroad and NIS 2.46 billion in Israel.