Israeli Government Passes Budget for First Year in Three Years

The Israeli government passed, today morning, the 2012-2022 public budget for the first time in three years due to political turmoil that pervaded the country, which led to four general elections in less than 36 months.

To authorize the budget the Knesset (Israel's legislative body) must ratify it over a plenary sitting that will be convened on November 15.

The Israeli government led by Naftali Bennett faces a complicated problem as it bases on very narrow majoring in the Knesset.

To pass the budget in the Knesset, many deals between the government and the opposition were led by the former Primer Minister Benjamin Netanyahu, according to Yedioth Ahronoth, an Israeli wide-circulated daily newspaper.

The liabilities side at  2021-2022  new budget reaches NIS 432.5 billion ( about USD 133.78 billion) and expenditures at the following budget are estimated at NIS 452.5 billion ( some USD 140 billion).

Among the reforms included in the budget: the development of infrastructure for transport, housing, energy, and technology along with upgrading public services and rationalizing the public sector.

Also, the new budget addresses the regulation and integration of more people into the labour market.

At the end of the vote on the budget approval, Prime Minister Naftali Bennett said that after three years of stalemate, Israel is back in business.

The budget reflects the interest of all Israeli citizens and does not serve any narrow sectorial interest."

Finance Minister Avigdor Lieberman said the government has brought great news to the citizens of the country.

He added that the reforms adopted  by the governing coalition focus first and foremost on lowering the cost of living as these steps   all   feel in them very quickly."

The budget was approved after the Ministries of Finance and Health reached agreements between them.

According to the agreement, the Ministry of Health will receive an increase of five billion shekels (NIS) (USD 1.55 billion) - an additional two billion shekels (about USD 619 million), in addition to the regular increase in the budget by about three billion shekels (about USD 928 million).

Days earlier, Israeli Prime Minister, Finance Minister Lieberman, and Defense Minister Benny Gantz approved a foundational defence budget of NIS 58 billion (USD 17.8 billion) for 2022.