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March Budget - End of Month Report

Day 866, 15:35 • Published in Israel Israel

• by Israel Ministry of Finance

I am pleased to present the current position of finances for the State of eIsrael as at the end of the March Presidential term.

The objectives of the ministry for this month were:
* Maintain stable NIS rate of 0.02 Acheived
* Issue March budget to Knesset for approval Achieved
* Maintain IFD reserve levels (currently c1000 gold) Exceeded
* Maintain good communications and relations with the Knesset Finance Committee Achieved
* Make regular reports on the activity of the ministry Achieved
* Activate and manage government owned companies Partially Achieved

The full budget spreadsheets are available here:
https://spreadsheets.google.com/ccc?key=0AhTWpBZFk4N3dGZwZUZoTWtsbHcyYzRoTjc2MkRtZ0E&hl=en

Headline messages from the end of budget calculations are as follows:

1. I am extremely pleased to announce that I underestimated revenues. Our reserves have now risen to 1447 gold - that is 350 gold over estimates.
2. A large explanation for this was the substantially lower than anticipated MPP renewal costs. We are now only maintaining two MPPs.
3. MK donation exceeded expectations - thank you MKs!
4. NIS sales have far exceeped expectations. There will be a need to make a further NIS issue in April, and further donations of NIS to IFD.

It's been quite a learning experience managing the first ever budget of eIsrael, but on the whole our estimates about revenue and expenditure have been close to the mark.

Credit must be given to the inputs of Vice-Minister of Finance, Sam Krakower, and to the interns of the Ministry of Finance: Robbie Lizzini, yagi, nibor dua, TheRipper, ormay3, bajumboom, Yibgib, Gavriel

Franz Kafka
Ministry of Finance

Comments

Gavin Wax Day 866, 16:03

voted

Sam Krak Day 866, 16:30

Pleasure working with you FK, I enjoyed it thoroughly 😃

Zaib Atsu Day 866, 16:34

It's the first time we have a budget in Israel and you did amazing job.
I hope that it won't stop and next month we will have a budget and those articles again.

I think that we had such high NIS sales due to big rise in weapons and houses export and that we had a growth of 20% in our population.

Bennychka Day 866, 22:16

Stable rate of NIS help our economy a lot, specially companies which exporting goods outside of eIsrael. Last month I sold tons of MT outside of the county. Yes, with small margin, but because I was sure that NIS will stay stable I can calculate my cost very accurate & be sure that at least I will not lost money.

I also thinking that our current tax system is ok.

Only thing which is hurting as VERY STRONG is lack of TW, ppl leaving mostly because they want fight & raise rank.

mrsjholiday Day 867, 15:27

voted

PLN Group Day 943, 11:14

great job guys! V. and make more.

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