BREAKING NEWS

Finance Ministry to present NIS 8.5 billion plan to stimulate growth

AUGUST 7, 2020 20:44

The Finance Ministry intends to present a NIS 8.5 billion plan to stimulate economic growth, Channel 13 reported on Friday evening.

The sum is meant to finance vocational training for unemployed Israelis, the NIS 700 million food security plan championed by Interior Minister Aryeh Deri, and the cost of constructing the central Israel light rail. The light rail completion will be delayed by at least one year due to shortage of workers because of COVID-19.

The report claimed Likud ministers are deeply worried Prime Minister Benjamin Netanyahu plans on leading the country to new elections.

“What will we show the public [to get them to support us]?” a minister told the news service. “We will become like Lebanon."

Israel must present a budget by August 24, while Netanyahu is calling for a one-year rapid budget, Alternate Prime Minister and Defense Minister Benny Gantz is pushing for a two-year budget.

When Likud signed the coalition deal with Blue and White both parties agreed to present a two-year budget.

Netanyahu claims it would be irresponsible to insist on a two-year budget during a pandemic.

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