JERUSALEM, June 9 (Xinhua) -- Israel's budget deficit in the 12-month period ending in May declined to 600 million shekels (180 million U.S. dollars), or 0.04 percent of its gross domestic product (GDP), said the Israeli Finance Ministry on Thursday.

       This is the lowest level in Israel since 2007, when the budget deficit decreased to zero, according to ministry data.

       In February 2021, Israel's budget deficit reached a record high level of 173.9 billion shekels, or 12.4 percent of its GDP, and has been gradually declining every month since then, the data showed.

       According to the ministry, spending on the national COVID-19 financial support plan continued to drop last month, while government revenue increased significantly.

       Since the beginning of 2022, the Israeli government's expenditures totaled 173 billion shekels, down 13.2 percent, while revenues have reached 206.3 billion shekels, up 25.4 percent year-on-year, the ministry said.

       In the first five months of 2022, a surplus of 33.3 billion shekels was recorded in the Israeli budget, compared to a deficit of 34.8 billion shekels in the same period of last year, it added.