Finance C'ttee approves NIS 11b for classified defense projects

Knesset Finance Committee credit: Noam Moskowitz, Office of the Knesset Spokesperson

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It is not clear how the allocation will affect estimates of the fiscal deficit.

The Knesset Finance Committee, under the chairmanship of MK Moshe Gafni (United Torah Judaism) has approved an allocation of NIS 11.3 billion for unspecified defense projects. In an extraordinary procedure, approval of the supplement to the defense budget was put to an immediate vote, with the consent of all the committee members present at the session, because of its urgency. The defense budget has thus grown from NIS 87.45 billion to NIS 98.75 billion.

Approval of the allocation took place after the latest session of the Finance Committee was devoted to the fiscal deficit and the rise in inflation. Ministry of Finance representatives said they still believed that the deficit for the coming year would be 6.6% of GDP, as set down in the revised budget. It is not clear whether or not the current defense allocation will affect that assumption.

Published by Globes, Israel business news - en.globes.co.il - on June 5, 2024.