Israeli Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich announced they would pass the 2025 budget by the end of the year.
“Discussions were held regarding the budget framework to support the war effort on the fronts and at home to push the economy forward,” says a statement by Netanyahu’s office, mentioning that Smotrich and Netanyahu plan to complete the budget by the end of the year.
Israel has faced having its credit rating cut by Moody’s and S&P and is facing pressure to shape up its finances – a significant challenge as it faces a costly war.
Spending on the war reached NIS 80 billion ($22 billion), and there is some indication the government will have to make cuts.
