Knesset gives first reading to budget bill

Avigdor Liberman in the Knesset  credit: Noam Moskowitz, Knesset

The budget framework bill is the first of six the Knesset will vote on in debating the first state budget for three years.

After a debate that began at 10:00 am this morning, the Knesset has given a first reading to the first of six bills on the state budget, setting the budget framework and the maximum deficit, by a majority of 59 to 53. The debate and the voting on the remaining five bills are set to continue into the evening, under an agreement reached between the coalition and opposition whips.

The Knesset House Committee will meet next Thursday and the following Sunday to decide which committees will prepare the reforms contained in the Economic Arrangements Bill accompanying the budget.

One of the reforms, the introduction of a Regulation Authority, has been a bone of contention between the coalition parties themselves, with Meretz and Labor opposing it. Talks have been taking place today in Prime Minister Naftali Bennett's room in the Knesset on a compromise.

It is three years since the Knesset last passed a state budget. It has now been presented with a two-year budget by Minister of Finance Avigdor Liberman. The budget framework will be NIS 432.3 billion for 2021 and NIS 452.5 billion for 2022.

Published by Globes, Israel business news - en.globes.co.il - on September 2, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Avigdor Liberman in the Knesset  credit: Noam Moskowitz, Knesset
Avigdor Liberman in the Knesset credit: Noam Moskowitz, Knesset
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