Israeli banks to pay state $1 billion in 2026, lowering budget deficit target to 4.9% of GDP

JERUSALEM, March 19 (Reuters) - Israel's commercial banks will pay the state a one-time tax of 3.25 billion shekels ($1.0 billion) in 2026, which will lower the planned budget deficit target to 4.9% of gross domestic product from 5.1%, the Finance Ministry said on Thursday.

($1 = 3.1239 shekels)