Israeli Finance Minister Moshe Kahlon. Photo: Reuters / Ronen Zvulun.

Israel met its budget deficit target of 2.9 percent of gross domestic product for 2018, Finance Minister Moshe Kahlon said on Sunday.

Kahlon has said consistently the government would not break the budget, despite data in recent months showing the deficit could breach the 2.9 percent target in 2018.

“The Finance Ministry met the target,” he said in a speech.

The government has set the same deficit target for 2019.

Data in October showed the deficit over the prior 12 months jumping to 3.6 percent of GDP, raising concerns of a loosening of fiscal policy.

Official data on the budget deficit is slated to be published later this month.