Israel's cumulative deficit over the past 12 months stood at 7.2% of Israel's GDP as of the end of May, the Finance Ministry announced Sunday. This deficit is well past the 6.6% ceiling that was set by the Knesset in the updated 2024 budget and supposed to apply until the end of the year.The monthly deficit for May stood at NIS 10 billion, and the deficit from the start of the year stood at NIS 46.7 billion.Including war spending, public expenditures grew 35% from January to May 2024 compared to the same time frame last year. When neutralizing the costs from the war, this growth was 10%.The increase in public income was 2% when comparing January to May 2024 to January to May 2023.