Former Israeli finance minister Avraham Shochat passed away at age 88 early on Wednesday.
Shochat served as finance minister twice, first under Yitzhak Rabin (1992-1996) and second under Ehud Barak (1999-2001).
A long-time resident of southern Israel, he helped found Kibbutz Nahal Oz and served as mayor of Arad for twenty years.
He was survived by his three children and seven grandchildren.