Budget

"It is not unlike a second war of independence. And unlike the Yom Kippur War of 1973, which lasted three weeks, its end is not in sight.”

The Knesset approved a second 2024 budget, driven by the Israel-Hamas war, with 57 votes for and 51 against.

The legal blanket haredi exemption from IDF service ended in July 2023 after being ruled unequal and therefore unconstitutional.

According to Finance Minister Bezalel Smotrich, the change will not increase the state's budget deficit at year's end, since it will be offset by higher-than-expected national income from taxes.

MK Mickey Levy condemns Finance Minister Smotrich for missing the budget deadline and State Comptroller Englman for delaying the war report, urging immediate action and accountability.

Smotrich presented what he deemed the "central principles and budget framework," and did not lay out expected budgets in specific ministries.

Smotrich's response to Gardos reflects the existing tension between the finance minister and one of the most important economic figures in the country.

The two discussed the budget's framework and different alternatives for its structure, with the goal of supporting the war efforts

Head of Budget Department at Finance Ministry, Yogev Gardos, advocated for broad conscription in Israel, proposing benefits and savings, prompting debate and committee action.

Netanyahu and economic officials discuss Israel's 2025 budget amid fiscal challenges from ongoing conflict, aiming for parliamentary approval by year-end amidst rising deficit concerns.